Financial Reforms: Three years later
For years, the US and other industrialized nations enjoyed great prosperity, which allowed it to largely ignore the dangers of accruing long-term debt. And then came the 2008 financial crisis. Three years after the crisis reached its peak, the Brookings Institution pauses to examine where financial reforms stands today.
Several issues have emerged as obstacles to enacting reform, including the ongoing housing crisis, the challenge experienced by regulators of implementing Dodd-Frank financial reforms, and the reality that, “as reforms are being put in place, new risks are developing.”