The following is an excerpt from the U.S. Treasury website. It is the basic outline of the Treasury's version of what the goals should be to reform Wall Street.
"The financial crisis cost millions of jobs, erased more than $16 trillion in household wealth, and deeply scarred confidence in the integrity of the financial markets. The Dodd-Frank Wall Street Reform and Consumer Protection Act addresses key gaps and weaknesses in the system to help make future financial shocks less likely and less damaging. That’s critical because investors need confidence in the underlying safety, stability, and integrity of the financial system if they are going to put their capital to work financing new products, new businesses, and new jobs. The Dodd-Frank Act’s reforms are vital to restoring that trust and rebuilding a pro-growth, pro-investment financial system. It helps achieve those objectives by:
Promoting a Safer, More Stable Financial System Focused on Sustainable Growth and Job Creation.
Putting in Place a Dedicated Watchdog for Consumers.
Bringing the Derivatives Market Out of the Darkness and Into the Light of Day.
Providing New Tools for Winding Down Failing Firms Without Putting the Economy in Jeopardy.
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