Jim Millstein: Tread Carefully on Dodd-Frank

The transcript discusses the Dodd-Frank Act, its impact on the financial system, and potential reforms. It highlights the importance of living wills and the challenges of addressing 'too big to fail' institutions. The conversation also touches on the need for global regulatory cooperation to ensure consistency across international financial markets.

What is one of the key innovations of the Dodd-Frank Act mentioned in the video?

• Elimination of bank fees

• Tax cuts for banks

• Living wills for financial institutions

• Increased interest rates

What is a major criticism of the Dodd-Frank Act according to the video?

• It led to higher consumer fees

• It increased bank profits

• It failed to address 'too big to fail'

• It reduced bank competition

What is the political challenge mentioned in rolling back Dodd-Frank regulations?

• International pressure

• Economic instability

• Lack of public support

• Finding a viable alternative

Why is global regulatory consistency important for financial institutions?

• To increase bank profits

• To ensure efficient trading

• To reduce taxes

• To eliminate competition

What potential impact does the U.S. not participating in international regulatory discussions have?

• Increased global cooperation

• Inconsistent regulations across countries

• More efficient global trade

• Higher bank fees