I heard Michael Barr speak at the Chicago Club yesterday. Michael is currently Assistant Secretary for Financial Institutions at the Treasury. In this role, he is responsible for developing and coordinating Treasury's policies on legislative and regulatory issues affecting financial institutions. As part of his job, he has been touring around and giving talks about the Wall Street and consumer protection reforms in the Dodd-Frank Act, which President Obama signed into law a few weeks ago.
The Act, which has come in response to the turmoil in financial markets over the past few years, amounts to the most sweeping change to financial regulation in the US since the Great Depression. Personally, I think that the Act certainly means well and may make a difference in areas such as whistleblowing, but I am always skeptical of overregulation.
Speaking of whistleblowing, here is a guide for What Not To Do When Blowing The Whistle.
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