It's been five blissful years to the day since the Dodd-Frank reforms entered our lives.
In that time, the phrase "Dodd-Frank" has become a political football/verbal Rorshach test for everyone with an opinion about financial regulation. Whether you're an Elizabeth Warren or Rand Paul, the idea of Dodd-Frank provokes something in you.
Unless of course, you're roughly 40% of the American public, in which case your response is "What the f*ck is Dot-Franks?"
According to a report from the American Enterprise Institute, 39% of Americans polled have never even heard of Dodd-Frank while 27% are "Not Very Familiar" and 30% are "Somewhat Familiar." Only 4% of respondents considered themselves "Very Familiar" with the reforms, and based on the data one has to assume that either Chris Dodd, Barney Frank, or both were among the 4%.
Other findings in the study show that while Americans are increasingly less concerned about the necessity of financial regulation, only a handful believe that the federal government is capable of doing it.
But it's not like Everybody Loves Wall Street.
Check out the responses to these interestingly worded questions.
Also, 79% believe that Wall Street have different values than regular Americans.
But it turns out that Americans might not be so honest after all.
Wow. Can't believe you'd lie to our face like that, America.
Dodd-Frank at Five: Public Opinion on Wall Street,Banks, and Financial Regulation [American Enterprise Institute]