Citing some studies that show the last crisis cost up to $14 trillion, supporters argue there is no question: The financial overhaul law was worth it.
“Rules are not the enemy of the markets,” Sen. Elizabeth Warren (D., Mass.) said Tuesday at a conference hosted by the Institute for New Economic Thinking, a liberal think tank. “Rules are a necessary ingredient for healthy markets.”
So it’s no surprise the law’s supporters pounced on a new research paper by a conservative think tank that argues Dodd-Frank rules could reduce economic output by $895 billion over the next decade.
Dodd-Frank Supporters Argue Safer Financial System Justifies Cost of Regulation [WSJ Real Time Economics blog]