@article{440989,
      recid = {440989},
      author = {Skeel, David A.,},
      title = {The new financial deal understanding the Dodd-Frank Act  and its (unintended) consequences / [electronic resource]  :},
      publisher = {Wiley,},
      address = {Hoboken, N.J. :},
      pages = {1 online resource (xix, 220 p.) :},
      year = {2011},
      abstract = {"What can we expect from our era's New Deal? To answer  this question, The New Financial Deal will begin with an  inside account of the legislative process, then outline and  access its key components: the new framework for regulating  derivatives, the regulation of banking and systemic risk,  and the new resolution regime. It will explain the  implications of the new framework, and propose correctives  that would better align its ostensible objectives--such as  preventing future bailouts--with the new regulatory  structure. The legislation's key theme is government  partnership with and regulation of large concentrated  institutions in order to reduce their risk and manage their  failure. In place of the decentralized pre-crisis  regulation of derivatives, the new legislation will require  that most derivatives be cleared through a clearing house  and traded on exchanges. The stability of the derivatives  market will therefore depend on a small number of  potentially enormous clearing houses. For large financial  institutions that encounter financial distress, the  legislation gives bank regulators sweeping new authority to  step in and take over the institution. Regulators, rather  than negotiations among the parties themselves, will  determine the outcomes. These epochal reforms are posed to  change Wall Street forever, but whether they help to  regulate supermarket banks or create even more moral hazard  is worthy of serious debate."--},
      url = {http://library.usi.edu/record/440989},
}