I've gotten into a discussion with a fraternity brother over on Facebook regarding Financial Reform (and politics in general, he's left-of-center, though not annoyingly so).
So, thought I'd bring some of my discussion over here, largely so I could save some links. But, you might find an education on the collapse of 2008 and the subsequent "reforms" of interest.
I think this commenter over at Seeking Alpha makes some very valid points re the Dodd-Frank Financial Reform bill. I also think Dodd's a crook, so count me all in on that one.
The Heritage Foundation has an analysis here. They also wrote an Op-Ed for USA Today.
Cato has some more, here and here,
I hate to say this, but even Brookings (who tends to be center-left) is not enamored of this bill either. But, this particular analyst thinks that something was better than what was in place, although even he concedes Congress punted the hard issues to regulators (let's see how THAT works out) and puts tremendous power in those regulators and the Treasury department's appointed officials.
The bottom line is this financial reform is pretty short on reform, especially of the entities that needed it the most, Fannie, and Freddie. As for me, I'm actually a heck of a lot more comfortable with the people who run these industries (and have actual financial interests in their success) making hard decisions, than regulators.
Cato's "How Did We Get Into This Mess." It's a good read (12 pages).