March/ April 2012
Obama’s Top 25 Accomplishments
Slideshow: Barack Obama's Top 25 Accomplishments
3. Passed Wall Street Reform: Signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010) to re-regulate the financial sector after its practices caused the Great Recession. The new law tightens capital requirements on large banks and other financial institutions, requires derivatives to be sold on clearinghouses and exchanges, mandates that large banks provide “living wills” to avoid chaotic bankruptcies, limits their ability to trade with customers’ money for their own profit, and creates the Consumer Financial Protection Bureau (now headed by Richard Cordray) to crack down on abusive lending products and companies. Photo by Flickr user Mathew Knott.
Click here to read the full top 50 list in the current issue of the Washington Monthly.