GAO Calls For Timeframes On Dodd-Frank Implementation

The U.S. Government Accountability Office (GAO) has released a comprehensive report on the government’s role in aiding large banks during the crisis, and how well new regulations can be expected to prevent bailouts the next time we have a recession. For anyone who’s been paying attention the last few years there isn’t a lot of new information, but the lack of clear recommendations and the lack of action is pretty underwhelming.

GAO report explains government bailout programs

The GAO report, titled “Government Support for Bank Holding Companies”, explains that TARP, QE, and other government bailout programs “helped to stabilize financial conditions, while participating firms also accrued benefits specific to their own institutions, such as liquidity benefits from...