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Dodd and Frank: No Government Bailouts Allowed 

April 3, 2014
Ryan Tracy, Wall Street Journal, Money Beat

The two authors of the 2010 Dodd-Frank financial overhaul law have a message for Wall Street: Forget about another bailout.

Former Sen. Christopher Dodd and former Rep. Barney Frank, the two Democrats who shepherded the post-crisis bill through Congress in 2010, gave a robust defense of their efforts on Monday amid an ongoing debate about whether large financial firms remain “too big to fail.”

“We did, I believe, the maximum that you could do legally to make clear that if a large financial institution incurs debts it cannot pay, it is out of business and no taxpayer money can be used,” Mr. Frank said at a conference here hosted by the U.S. Office of the Comptroller of the Currency and Boston University.

Read more: Money Beat

 

 
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