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Intro: In 2008, it cost the U.S. $787 million to bail out Wall Street. That's before the people were
helped during the Great Recession- because no rules were set in place, the government was able
to prioritize their interests with big business instead of the people. This is why the decisions
made in the Dodd-Frank Act of 2010 are so important. It takes the people into account when the
banks are in trouble with their investments.
The current national debt of our country is roughly $18.1 trillion dollars. Each citizen's share of
the debt is about $57,000. So in this room alone, that is about $3.5 million dollars. Over 50% of
U.S. households don't make that much annually. That's not just the adults- that's every citizen of
the U.S., children included.
To say that economic reform wasn't and isn't needed in our country is insane. However, people
need to realize that though there is still a large national debt, this doesn't directly correlate with
the Dodd-Frank Act: there are other factors involved with our national debt that don't have
anything to do with bailing out big businesses before taking the American people into
consideration. The fact of the matter is that Acts like that of Dodd Frank prevent Recessions like
that of 2008.


During times when banks were smaller. Depression. the amount of depository assets owned by banks had risen to 54%. The banks have more control over the country's money these days. However. almost double what it was thirty years before. by the time of the Dodd-Frank Act. Thea . it has positively affected American real-estate business. The legislation of the Dodd-Frank Act says its purpose is "to assure that consumers are offered and receive residential mortgage loans on terms that reasonably reflect their ability to repay the loans and that are understandable and not unfair. For example. or's to prevent the financial powerhouses of the U. which is why the government needs to instate more regulations that will prevent further downfall and corruption of American banks. deceptive. Without political efforts like the Dodd-Frank Act. or worse.S. The Dodd-Frank Act makes the financial standings of our country safer and more fair. the tight financial regulations of the Dodd-Frank wouldn't have been as important. This act is instrumental to keeping big business in check. when the ten largest banks had less than 30% of bank depository assets. However. like in the 1980s.—the banks—from unintentionally causing another Recession. we put American society at risk for additional economic traumas.Middle: The goal of the Dodd-Frank Act isn't to eliminate the national debt. The act prevents leaders in the mortgage business from being as unethical as some of this country's banks. the Dodd-Frank Acts affects more than just the banks.

S.S. They can have negative fiscal consequences equal to or worse than that of the vast majority of steep stock market losses. the same type of derivatives trading that arguably caused the banks to fail in the first place. The banks were allowed to fail at their own will. are financial contracts that bind future business deals. Derivatives. We have a democratic government for reasons such as this. in reality.making it a rule so that if they were to fail. economy. knowing that the government would pick up the pieces of their demise. But this is painfully unfair. like they did in 2008. most importantly. The Dodd-Frank Act works to end this. citizen. This prevents huge. the government would bail them out. the biggest sin would be to leave the banks as they were. its people. controlling the U. it creates a system where the banks have so much financial power that they are literally "too big to fail". and perhaps. and it turn. It is vital that American people and politicians alike realize that the financial regulatory reforms of the Dodd-Frank Act are vital in catalyzing further progress and refinement of the intricate. yet promising economy of the United States. the Dodd-Frank Act created the Establishment of Transparency and Accountability for Exotic Investments. . Yet. Essentially. ending bailouts that put the American people at a severe disadvantage. It is without question that a political initiative such as the Dodd-Frank Act is met with controversy because people may think that it infringes on their rights as a U.Ending: The Dodd-Frank Act works to dismantle the "too big to fail" theory of American economics. secretive derivatives from being exchanged. Also. in short.