The Heritage Foundation recently launched the second part of its two-volume report, titled Prosperity Unleashed: Smarter Financial Regulation, with the expressed purposes of dispelling what its authors deem the “myth” that deregulation of the financial industry led to the 2008 financial crisis, and proposing workable alternatives to the current federal regulatory regime.
The first volume, titled The Case Against Dodd–Frank: How the “Consumer Protection” Law Endangers Americans, was published in April 2016. Heritage Foundation Senior Fellow in Economic Policy Norbert Michel described the first volume as “a title-by-title takedown of Dodd-Frank,” during a panel discussion about the report, and the second volume as having a broader focus.
Read on to find out more about the arguments and recommendations included in the report.