The Twin Towers of Dodd-Frank

March 24, 2015

Source: Link

By Albert R. Hunt (original source Bloomberg)

“On the surface, Henry Paulson, the former CEO of Goldman Sachs and Secretary of the Treasury under President George W. Bush, and Senator Elizabeth Warren, the populist Democrat from Massachusetts, seem an unlikely team. But former Representative Barney Frank, co-author of the Dodd-Frank financial reform legislation enacted in 2010, said he views Paulson and Warren as twin pillars protecting the financial system.

In an interview this week on the Charlie Rose television program, Frank, who was chairman of the House Financial Services Committee during the 2008-2009 financial crisis, recalled former Federal Reserve Chairman Ben Bernanke and Paulson telling Congressional Democratic leaders, “The economy is about to fall apart and we have got to do something the public isn’t going to like.”

Frank worked with Bernanke and Paulson to push through the unpopular but ultimately successful financial bailout known as the Troubled Asset Relief Program. Paulson, Frank said, remained helpful even after leaving government, assisting in the drafting and passing of Dodd-Frank.”

Click here to read more

Relevant and recent posts

Sanjay Gupta: Can Science and God Coexist?

Faith and science may often seem at odds with one another, but renowned geneticist and former NIH director, Dr. Francis Collins, says that he sees…

Thought Leader: Sanjay Gupta

Marc Short on what to expect from DOGE in relation to next year’s legislative agenda

Marc Short comments on what to expect from DOGE in relation to next year’s legislative agenda for CNBC. Looking for a great keynote or public…

Thought Leader: Marc Short

Marc Short on whether Musk has permanently changed how congressional communication functions

In this video, Marc Short joins CNBC to discuss whether Musk and Twitter have permanently changed how congressional communication functions and what to expect for…

Thought Leader: Marc Short