wealthwire.com / by Brianna Panzica / Monday, February 4th, 2013
Lawmakers are taking another look at the regulations that promised to put an end to the “too big to fail” financial institutions.
The 2010 Dodd-Frank Act was put in place to do just that after Lehman Brothers Holdings Inc. proved to have such an impact on the economy that its collapse pushed the U.S. over the edge and into a recession.
But many are starting to think that Dodd-Frank failed to accomplish what it promised. The “too big to fail” institutions are now even bigger.
And concern is spiking as these banks prove that. JPMorgan Chase & Co.’s $6.2 billion trading loss in 2012 is just one example of that.