Commentary: How historic is the Dodd-Frank act?

The Dodd-Frank act will make many changes, but it isn't, as some argued, the most sweeping overhaul of financial regulation since the Great Depression, columnist David Weidner writes. The Glass-Steagall Act, the Securities Act of 1933 and the Securities Exchange Act of 1934 laid the foundation for recovery and the decades of prosperity that followed. The Gramm-Leach-Bliley Act of 1999 destroyed that reform, and with the Dodd-Frank act, the government passed up many opportunities to achieve true reform, Mr. Weidner argues.

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