With the recent publication of its final rule, the federal government's Financial Stability Oversight Council is now in position to designate certain nonbank firms as "systemically important financial institutions" (SIFIs). There is probably no aspect of the Dodd-Frank Act that will have more damaging effects on competition in the U.S. financial system.

One of the many requirements of the Dodd-Frank Act is that all federal agencies must remove references to and reliance on credit ratings from their regulations and replace them with alternative methods for evaluating creditworthiness. 

According to recent press reports, the Securities and Exchange Commission (SEC) is considering releasing a controversial proposal to impose additional capital and liquidity regulations on the $2.7 trillion money market fund industry (MMMFs) and to replace the fixed $1 net-asset value ("par value") rule now used by all MMMFs to redeem customer funds with a mark-to-market (NAV) requirement. 

A potential European banking crisis would spill over to the US financial system, which has very close links to the European banking system.

Will we recover, unbridle ourselves of debt, innovate, pay for our national security? Or, is China fated to become number one, leaving us to live in a Chinese world?

The risk-retention requirements of the Dodd-Frank Act (DFA) were enacted in the belief that they would improve thequality and reduce the risk of securitized mortgages by requiring securitizers to have -skin in the game.  

The risk-retention requirements of the Dodd-Frank Act (DFA) were enacted in the belief that they would improve the quality and reduce the risk of securitized mortgages by requiring securitizers to have ―skin in the game.

It’s depressing to watch, but it is missing the point that the Volcker rule would not have prevented the loss and is probably unworkable.