Former SEC Commissioner and Trump administration advisor Paul Atkins chatted with CNBC today about the forthcoming Dodd-Frank replacement.
Dodd-Frank was the pinnacle legislation crafted during the ashes of the Great Recession designed to address shortcomings within the financial services industry. While its intent may have been positive the reality has been far different as the legislation has become an anchor on the economy and, at worst, may have institutionalized too big to fail.
Pretty much everyone understands that Dodd-Frank is broken and it needs to be fixed. Atkins provides some interesting insight into the process that will deal with this misfired act of law that has cost the economy billions of dollars in lost productivity and excessive compliance.
Watch the CNBC video below.