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In reply to the discussion: When a friend is addicted to something that is harmful to them [View all]DanTex
(20,709 posts)it was just a different regulation. Dodd-Frank covered things that Glass-Steagall didn't, for example, the Consumer Financial Protection Bureau. Glass-Steagall prevented commercial and investment banking to occur within the same firm, something which was largely peripheral to the financial crisis. It has become a rallying cry on the far left, not because they have any clue about how financial regulations actually work, but instead because it wasn't part of Dodd-Frank, so it gives them something to complain about.
Still, more to the point, no matter what regulations get passed, you can always come up with something else that might have been done too. This is a perennial problem with the far left. You raise the minimum wage to $15 and the next day they will be calling you a corporate sellout because you didn't raise it to $16.
Dodd-Frank is widely considered to be successful, although there is certainly room for improvement. But there's no way to make the case that it reflected some kind of pro-corporate bent on Obama's part, and it was fought by industry. Of course, now that the far left helped throw the presidential election to the GOP, we don't know how much of Dodd-Frank will survive.
And this is the supreme irony of the far left. They complain that the Democrats aren't far enough left. And then they help Republicans, who are on the extreme right, get into office.