Over at the Glom, the Dodd-Frank Masters
forum continues for a third excellent day. There have been over twenty-five posts so far, on a wide
range of issues covered (or not covered) by the Act, as well as a good exchange
among the contributors in the posts themselves and in the comments. I posted a
second set of thoughts today, in response to some prompting from moderator
Erik Gerding.
At the risk of mischaracterizing either the general mood or
specific individuals, I’d say that overall the assessment is fairly negative
over there. While Larry
Ribstein, Christine
Hurt, and
I are probably the most obvious skeptics, others have raised plenty of
concerns with specific provisions.
I’d say that Brett
McDonnell is the most positive of the bunch, and does a good job of
identifying some rays of hope in the legislation, though I don’t share his
optimism about either the benefits of the package as a whole, or the likely
ways in which regulators will use their grants of authority (but we’ll have to
wait and see what they do in practice to know whether that glass is half-empty
or half-full – or even all-empty or all-full).
In any event, it’s definitely worth stopping by the Glom again,
if you still haven’t gotten your financial reform fix.