David Skeel

The New Financial Deal (eBook, ePUB)

Understanding the Dodd-Frank Act and Its (Unintended) Consequences

• Format: ePub

Produktbeschreibung

The good, the bad, and the scary of Washington's attempt to reform Wall Street The Dodd-Frank Wall Street Reform and Consumer Protection Act is Washington's response to America's call for a new regulatory framework for the twenty-first century. In The New Financial Deal, author David Skeel offers an in-depth look at the new financial reforms and questions whether they will bring more effective regulation of contemporary finance or simply cement the partnership between government and the largest banks. * Details the goals of the legislation, and reveals that how they are handled could dangerously distort American finance, making it more politically charged, less vibrant, and further removed from basic rule of law principles * Provides an inside account of the legislative process * Outlines the key components of the new law To understand what American financial life is likely to look like in five, ten, or twenty years, and how regulators will respond to the next crisis, we need to understand Dodd-Frank. The New Financial Deal provides that understanding, breaking down both what Dodd-Frank says and what it all means.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 240
• Erscheinungstermin: 10. Dezember 2010
• Englisch
• ISBN-13: 9781118014929
• Artikelnr.: 37343805

Autorenporträt

DAVID SKEEL is the S. Samuel Arsht Professor at the University of Pennsylvania Law School. He is author of Icarus in the Boardroom: The Fundamental Flaws in Corporate America and Where They Came From; Debt's Dominion: A History of Bankruptcy Law in America; and numerous articles on bankruptcy, corporate law, and other topics. His commentary has appeared in the New York Times, Wall Street Journal, Weekly Standard, Books & Culture, and elsewhere.

Inhaltsangabe

Foreword. Introduction. A Few Major Characters. Chapter 1 The Corporatist
Turn in American Regulation. The Path to Enactment. The Two Goals of the
Dodd-Frank Act. A Brief Tour of Other Reforms. Two Themes That Emerge.
Fannie Mae Effect. Covering Their Tracks. Is There Anything to Like? Part I
Relearning the Financial Crisis. Chapter 2 The Lehman Myth. The Stock
Narrative. Lehman in Context. Lehman's Road to Bankruptcy. Lehman in
Bankruptcy. Bear Stearns Counterfactual. Road to Chrysler. Chrysler
Bankruptcy. General Motors "Sale". From Myths to Legislative Reality. Part
II The 2010 Financial Reforms. Chapter 3 Geithner, Dodd, Frank, and the
Legislative Grinder. The Players. TARP and the Housing Crisis. Road to an
East Room Signing. Channeling Brandeis: The Volcker Rule. The Goldman
Moment. Chapter 4 Derivatives Reform: Clearinghouses and the Plain-Vanilla
Derivative. Basic Framework. Derivatives and the New Finance. The Stout
Alternative. New Clearinghouses and Exchanges. Regulatory Dilemmas of
Clearinghouses. Disclosure and Data Collection. Making It Work? Chapter 5
Banking Reform: Breaking Up Was Too Hard to Do. Basic Framework. New
Designator and Designatees. Will the New Capital Standards Work? Contingent
Capital Alternative. Volcker Rule. What Do the Brandeisian Concessions
Mean? Office of Minority and Women Inclusion. Institutionalizing the
Government-Bank Partnership. A Happier Story? Repo Land Mine. Chapter 6
Unsafe at Any Rate. Basic Framework. Who Is Elizabeth Warren? Toasters and
Credit Cards. The New Consumer Bureau. Mortgage Broker and Securitization
Rules. Consequences: What to Expect from the New Bureau. What It Means for
the Government-Bank Partnership. Chapter 7 Banking on the FDIC (Resolution
Authority I). Does the FDIC Play the Same Role in Both Regimes? How (and
How Well) Does FDIC Resolution Work? Moving Beyond the FDIC Analogy.
Chapter 8 Bailouts, Bankruptcy, or Better? (Resolution Authority II). Basic
Framework. The Trouble with Bailouts. Who Will Invoke Dodd-Frank
Resolution, and When? Triggering the New Framework. Controlling Systemic
Risk. Third Objective: Haircuts. All Liquidation, All the Time? Part III
The Future. Chapter 9 Essential Fixes and the New Financial Order. What
Works and What Doesn't. Staying Derivatives in Bankruptcy. ISDA and Its
Discontent. Other Bankruptcy Reforms for Financial Institutions. Plugging
the Chrysler Hole in Bankruptcy. Bankruptcy to the Rescue. Chapter 10 An
International Solution? Basic Framework. Problems of Cross-Border Cases.
Scholarly Silver Bullets. Dodd-Frank's Contribution to Cross-Border Issues.
New Living Wills. A Simple Treaty Might Do. Risk of a Clearinghouse Crisis.
Reinvigorating the Rule of Law. Conclusion. Notes. Bibliography.
Acknowledgments. About the Author. Index.