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REPORT BY

MIKE KONCZAL, ANDREW HWANG, AND KATY MILANI

JUNE 6, 2017

Debunking the Conservative Story About the Financial Crisis and Dodd-Frank

DOOMED TO REPEAT

ABOUT

THE ROOSEVELT INSTITUTE

Until economic and social rules work for all, they’re not working. Inspired by the legacy of Franklin and Eleanor, the Roosevelt Institute reimagines America as it should be: a place where hard work is rewarded, everyone participates, and everyone enjoys a fair share of our collective prosperity. We believe that when the rules work against this vision, it’s our responsibility to recreate them.We bring together thousands of thinkers and doers — from a new generation of leaders in every state to Nobel laureate economists — working to redefine the rules that guide our social and economic realities. We rethink and reshape everything from local policy to federal legislation, orienting toward a new economic and political system: one built by many for the good of all.

ACKNOWLEDGMENTS

We thank Lisa Donner, Sarah Edelman, Amanda Fischer, Corey Frayer, Gregg Gelzinis, Andrew Green, Marcus Stanley, Graham Steele, and Joe Valenti for their comments and insight. Roosevelt staff Nellie Abernathy, Marybeth Seitz-Brown, Eric Bernstein, Amy Chen and Alex Tucciarone all contributed to the project.

This report was made possible with generous support from the Ford Foundation and Arca Foundation.

ABOUT

THE AUTHORS

Mike Konczal

is a fellow with the Roosevelt Institute, where he works on financial reform, unemployment, inequality, and a progressive vision of the economy. He has written about the economy for numerous publications, including The Nation, The Washington Post and Vox. He received his M.S. in Finance and B.S. in Math and Computer Science both from the University of Illinois. Prior to joining the Roosevelt Institute, he was a financial engineer at Moody’s KMV working on capital reserving models.

Andrew Hwang

is a legal fellow at the Roosevelt Institute, conducting policy analysis on market power, financial regulation, and international trade. Prior to joining the Roosevelt Institute, he was an associate at Simpson Thacher & Bartlett LLP. He received his J.D. from the Duke University School of Law and B.A. in economics and political science from the University of Chicago.

Katy Milani

is a program director for the Roosevelt Institute’s macroeconomic work, which includes Roosevelt’s programs on trade, financialization and market power. Katy has an MSc in Regulation from the London School of Economics and B.A. in International Affairs and Spanish from the University of Colorado at Boulder.