Financial Regulation and the Crisis of 2008

The effects of the global financial crisis that began in the United States during the year 2008 are still being felt today, and the full long term impact of the crisis remains unknown. However, causes of the crisis and strategies for reform of the global financial regulatory system have already been analyzed in depth by various scholars and institutions. By studying the existing literature this paper examines the regulatory and economic environment present in the United States at the onset of the crisis, the regulatory response of the United States government presented within the Dodd-Frank Act, and discusses possibilities for the direction of future reform with the intent of promoting stability and creating effective regulatory schemes around the world