Friday, July 16, 2010

Financial Reform Grounded in Details

Note that the final version of the Dodd-Frank Act that is now on the President's desk contains more pages of text than all previous legislation in the history of banking reform. By comparison, the Federal Reserve Act of 1913 contained 31 pages, while the Dodd-Frank legislation contains 848 pages. See for yourself...

Federal Reserve Act (1913) - 31 pages.

Glass-Steagall Act (1933) – 37 pages.

Gramm-Leach-Bliley Act (1999) – 145 pages.

Sarbanes-Oxley Act (2002) – 66 pages.

Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) - 848 pages.
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1 comment:

Another Anonymous said...

Good thing to mention. By the way it is interesting that the full text of Glass-Steagall was almost impossible to find until Pam Martens wrote a counterpunch article about it. http://www.counterpunch.org/martens03262010.html . Archive.org got the the text from her, as did I when I wrote her and put up a link at wikipedia. For some reason, the only place it was on the web was not reachable by google - it couldn't find it even if you already knew that it is there.

July 18, 2010 1:12 AM

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