About the Book
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 144. Chapters: 2010 Flash Crash, 2012 JPMorgan Chase trading loss, Bank run, Basel Accords, Basel III, Big Bang (financial markets), Big Four (audit firms), Capital Requirements Directive, Central Counterparty Clearing, Central limit order book, Chicago Mercantile Exchange, Clearing (finance), Clearing house (finance), CLS Group, Collective action clause, Credit default swap, Credit rating agency, Death spiral financing, Depository Trust & Clearing Corporation, Dodd-Frank Wall Street Reform and Consumer Protection Act, European Market Infrastructure Regulation, European Securities and Markets Authority, European Systemic Risk Board, European Union banking stress test exercises, FASB 133, Financial crisis, Financial Crisis Inquiry Commission, Financial regulation, Financial Stability Board, Financial Stability Oversight Council, Global Association of Risk Professionals, Global Financial Markets Association, Global systemically important banks, Great Depression, ICE Clear Credit LLC, Keynesian endpoint, Libor, Libor scandal, Macroprudential regulation, Markets in Financial Instruments Directive, National Futures Association, Office of Financial Research, Options Clearing Corporation, Procyclical, Shadow banking system, Solvency II Directive, Supervisory Capital Assessment Program, Swap Execution Facility, Systemically important financial institution, Systemically important financial market utility, Systemic Risk Council, The Clearing House Payments Company, LLC, Troubled Asset Relief Program, Undertakings for Collective Investment in Transferable Securities Directives, Volcker Rule, Wall Street and the Financial Crisis: Anatomy of a Financial Collapse. Excerpt: The Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203, H.R. 4173) was signed into federal law by President Barack Obama on July 21, 2010. Passed as a response to the late-2000s recession, it brought the most significant changes to financial regulation in the United States since the regulatory reform that followed the Great Depression. It made changes in the American financial regulatory environment that affect all federal financial regulatory agencies and almost every part of the nation's financial services industry. As with other major financial reforms, a variety of critics have attacked the law, some arguing it was not enough to prevent another financial crisis or more "bail outs," and others arguing it went too far and unduly restricted financial institutions. The law was initially proposed by the Obama Administration in June 2009, when the White House sent a series of proposed bills to Congress. A version of the legislation was introduced in the House in July 2009. On December 2, 2009, revised versions were introduced in the House of Representatives by Financial Services Committee Chairman Barney Frank, and in the Senate Banking Committee by Chairman Chris Dodd. Due to their involvement with the bill, the conference committee that reported on June 25, 2010, voted to name the bill after the two members of Congress. Share in GDP of U.S. financial sector since 1860The financial crisis of 2007-2010 led to widespread calls for changes in the regulatory system. In June 2009, President Obama introduced a proposal for a "sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression." As the finalized bill emerged from conference, President Obama stated that the bill included 90 percent of the proposals. Major components of Obama's original proposal, listed by order in which they appear in the "A New Foundation" outline, include: At Obama's request, Co
