Financial Reform: Now It's Up To The Regulators

The simpler half of financial reform will be completed shortly with the passage of the Dodd?]Frank financial reform bill and its receipt of the president's signature. Hard as it may be to conceive, the complexity embedded in it's over 2000 pages of text is likely to be exceeded by the complications inherent in the regulatory implementation of financial reform. Nor is this just a technical question of working through the multiple thousands of pages of rule?]writing, the creation of operating procedures, and the writing of supervisory guidelines. Critical choices will be made - regulatory decisions are likely to be as important as the law itself in determining the success or failure of the effort to bring needed stability to the financial system.