Dodd-Frank’s Bankruptcy Provision Could Be a Trump Target
ByThis week, President Trump, in signing another in a seemingly endless parade of executive orders, vowed to “do a big number” on Dodd-Frank, the 2010 law enacted in response to the financial crisis.
While doing so will require more than a presidential signature on a piece of paper, and we have yet to see what sort of working relationship the president will have with Congress, I take him at his word. So far, he seems quite determined to do exactly what he said he was going to do during the election campaign.
I also think the effort to dismantle Dodd-Frank will start in earnest with the Orderly Liquidation Authority. This is the special bankruptcy procedure for large financial institutions. It was enacted to allow the “too big to fail” banks an avenue to do the latter, since they are still quite big…
Dodd-Frank’s Bankruptcy Provision Could Be a Trump Target
