Dodd-Frank: Money Never Sleeps

A bloated reform that won't prevent another financial crisis—and might even trigger a fresh one.

Issue: November-December 2013

PRESIDENT OBAMA and Congress continue to wrestle with competing ideas to fix America’s housing crisis, ranging from abolishing Fannie Mae and Freddie Mac to introducing new regulations for repairing the rickety mortgage-financing system years after it crashed. To understand the enduring nature of today’s housing-system mess, it is not really necessary to do much more than to look backward. To look, that is, at the careers of two former prominent politicians, each of whom has played an integral role in American finance in recent decades.

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