Unpublished Paper
Is Our Economy Safe? A Proposal for Assessing the Success of Swaps Regulation under the Dodd-Frank Act
Faculty Scholarship
Document Type
Working Paper
Publication Date
10-1-2010
Keywords
- OTC,
- financial crisis,
- swap,
- swap dealer,
- major swap participant,
- CFTC,
- Commodity Futures Trading Commission,
- CFMA,
- Commodity Futures Modernization Act,
- Dodd-Frank Wall Street Reform and Consumer Protection Act,
- CDS,
- Credit Default Swap,
- Clearing,
- DCO,
- Derivatives Clearing Organization,
- SEF,
- Swap Execution Facility,
- Volker Rule,
- Lincoln,
- Speculation
Comments
The paper was prepared for the Roosevelt Institute, October 2010.
Abstract
On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law. The central goal of the Dodd-Frank Act is to ensure that all standardized derivates products are regulated. The Act requires these trades be fully transparent and backed by adequate capital. The central question for evaluating the success of the Dodd-Frank Act is simple but profound: Has the Dodd-Frank Act made the economy any safer from the threat of another economic meltdown? This paper introduces a number of metrics that can be used to assess the success of the Dodd-Frank Act.
Disciplines
Citation Information
Michael Greenberger. "Is Our Economy Safe? A Proposal for Assessing the Success of Swaps Regulation under the Dodd-Frank Act" (2010) Available at: http://works.bepress.com/michael_greenberger/34/