SEC Commissioner Kara M. Stein recently gave remarks on the status of required Dodd-Frank rulemakings.  The pay ratio, claw back, conflict minerals and resources extraction rules didn’t really seem all that important to her though. I kind of agree, since I don’t really understand how these rules prevent another financial crisis.  She was focused on systematic risk.

Part of it is a trip down memory lane.  Ms. Stein said “I certainly remember looking at a streamlined, three-page document authorizing the expenditure of several hundred billions of taxpayer dollars—with almost no strings attached.  One doesn’t soon forget that.”  Yes, and I liked Hank Paulson’s plans.

Ms. Stein goes on to note “Many of the most important systemic risk reforms of the Dodd-Frank Act just aren’t done.  We need to finish these rules now; we cannot afford to wait.”

ABOUT STINSON LEONARD STREET

Stinson Leonard Street LLP provides sophisticated transactional and litigation legal services to clients ranging from individuals and privately held enterprises to national and international public companies. As one of the 75 largest firms in the U.S., Stinson Leonard Street has more than 520 attorneys and offices in 14 cities, including Minneapolis, Mankato and St. Cloud, Minn.; Kansas City, St. Louis and Jefferson City, Mo.; Phoenix, Ariz.; Denver, Colo.; Washington, D.C.; Decatur, Ill.; Wichita and Overland Park, Kan.; Omaha, Neb.; and Bismarck, N.D.

The views expressed herein are the views of the blogger and not those of Stinson Leonard Street or any client.