Why Dodd-Frank Act is a Failure

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Lawyer Releases White Paper On Failure of Dodd-Frank Act to Address Causes of Credit Crisis or Reform Credit Ratings Agencies

R. Tamara de Silva
Law Offices of R. Tamara de Silva
http://www.desilvalawoffices.com

More than two years after the burst of the housing bubble and the ensuing Credit Crisis, the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) becomes law. This act of well over 2,300 pages constitutes an unprecedented enlargement of the Federal Government with new Federal agencies and truly Byzantine laws that while said to protect Wall Street and the average American, will likely be one of the most expansive job creation initiatives for lobbyists and attorneys of all time.

Attorney de Silva was quoted as saying, “Congress was able to use the crisis and through the Dodd-Frank Act create seven more Federal agencies and enlarge the reach of Government’s regulation of the private sector to an unprecedented extent. Sadly, the root causes of the credit crisis have been left unattended. This sets the stage for the next financial crisis and if even a superficial examination of the history of these crisis is performed, it promises to be so much larger in scope than the last one. Congress had a chance to make meaningful reforms but instead has hastily put forth 2,300 pages of incomprehensible regulation whose intent may be sterling but will put a heavy cost on the private sector and by extension, the economy.”

More information and white paper can be found at: http://www.desilvalawoffices.com/Attorney-Articles/Article-9.aspx

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