Dennis Kelleher

Dennis Kelleher is president and chief executive officer of Better Markets.

Recent Articles

Trump’s Assault on Financial Reform

What’s left of the Dodd Frank Act is being dismantled, leaving the economy vulnerable to grotesque financial concentration, excessive risk—and a repeat of the 2008 collapse.

Our economy is not working for most Americans. Despite low unemployment rates, we are still suffering from the effects of the 2008 financial collapse, which is going to cost the U.S. more than $20 trillion . Just one remarkable statistic from a Federal Reserve study released in September 2018 highlights how bad things remain for most Americans ten years after the crash: The bottom 90 percent of people in the U.S. are economically worse off today than they were in 2007 by between 17 percent and 35 percent. The crash resulted from the massive deregulation of the financial sector by large bipartisan majorities through the presidencies of Bill Clinton and George W. Bush. The result was numerous too-big-to-fail financial giants that were also too leveraged, too interconnected, and too complex. The response to the collapse was to re-regulate those financial conglomerates in the comprehensive 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. Passing this law was virtually a...