Financial Services and Trading Institutions Problems Summary

Financial Services and Trading Institutions Problems
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Financial Services and Trading Institutions Problems
Introduction
The Dodd-Frank reform was established in 2010 due to the 2008 economic depression. The debate on the Dodd-Frank is very extensive, but there is no evidence to show he went too far in terms of establishing the reforms; it strengthened the economy. The Dodd-Frank Act was signed into law in 2010, and it was supposed to be implemented in seven years. The 2007/2008 financial meltdown was quite devastating, and the only way to stop the housing crash was through the Dodd-Frank. However, there are several instances where it does not put the typical American citizen into consideration (Klein, 2018).
Tenants to Repeal and Keep
The Dodd-Frank should have considered the real estate investors since they form the largest portion of the economy. Firstly, it makes it difficult to get a mortgage for middle-class homeowners due to the financing regulations stated in the act. In this case, repealing the middle-class owners was the wrong decision since the effect would be long-term. The Dodd-Frank affected how traditional lenders used to operate because it put strict rules between sellers and buyer...