Prohibiting their bond trading will seriously weaken banks and the markets that banks supply with liquidity.

With Europe collapsing, China stumbling, and India and Brazil retreating from full free market reform, we’re the last stable, pro-growth economy left.  

Under the Dodd-Frank financial-reform law, large nonbank firms may be declared systemically important because their failure will cause a systemic breakdown. In effect, this amounts to a government statement that these firms are too big to fail.

Fannie Mae did not contribute marginally to the financial crisis. It was the source of the declining mortgage underwriting standards that brought down the system.

Health care reform, financial reform, and the Consumer Protection Act have made it difficult for businesses to predict their future costs. The uncertainties associated with these acts have led to reluctance on the part of businesses to hire or to invest in long-term assets.

Section 913 of the Dodd-Frank Wall Street Reform and Consumer Protection Act gives the Securities and Exchange Commission (SEC) broad powers to establish wide-ranging rules to regulate the standard of conduct of broker-dealers in relationship to retail customers.

The Financial Stability Oversight Council (FSOC) recently released two studies as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

At this luncheon briefing, the SFRC, a group of independent experts on the financial services industry, issued a statement and answered questions.