“Americans blame banks for the 2008 financial crisis, and view financial reform as a way to ensure that bad mortgages and repackaged debt don’t trigger another banking collapse.” That’s one of the clear the lessons of the 2012 elections – and a big problem for lobbyists seeking to roll back the Dodd-Frank financial reform law, according to Reuters reporters Emily Stephenson and Sarah N. Lynch.
Dodd-Frank, they point out, was the Obama administration’s most popular law. “Most voters think that we need to change the status quo on Wall Street, and we need to make sure we do not have a repeat of the abuse of mortgage products,” the Reuters story quotes AFR executive director Lisa Donner as saying.