Financial Reform: Dodd-Frank Bill Lags Behind Schedule

Tuesday, June 07, 2011

Sen. Christopher Dodd (D-Conn.), flanked by Democratic colleagues after the Senate passed financial reform legislation back in May Sen. Christopher Dodd (D-Conn.), flanked by Democratic colleagues after the Senate passed financial reform legislation back in May (Getty Images)

It's been almost a year after Congress passed the Dodd-Frank financial regulatory law and many of the legislation’s rules are behind schedule. Regulators have extended the comment periods on the rules under pressure from Wall Street and Congress. "You have a lot of people on Wall Street who are concerned that they need lots of time to put rules in effect," says Louise Story, Wall Street and finance reporter for The New York Times. However, "the longer it takes for the regulations to go into effect, the longer the banks have to make money off of the derivatives." She details the need for the bill and the cause of the delays.

New York Times Wall Street and finance reporter, Louise Story, joins us to fill us in on what the delays are all about, and lets us know if any end to the setbacks appear to be in sight.

Guests:

Louise Story

Produced by:

Joseph Capriglione

Comments [1]

listener

Why no discussion of the men the bill is named for and their Congressional reputations and significant role in this appalling financial crisis?

Jun. 07 2011 09:28 AM

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