Policy paper Essay Example | Topics and Well Written Essays - 3250 words

Policy paper - Essay Example This is why policies undertaken by the government, nowadays, are highly valuable for economies. This report will throw light on Dodd Frank Wall Street Reform and Consumers Protection Act or the Dodd Frank Act. The Federal government primarily passed it in order to sustain atrocities of the financial crisis (2007 onwards). The context of the paper will encompass the rationale, efficiency, implementation, evaluation and recommendations regarding the law. The information and analysis of the paper will help to understand the nature of public-private dealings, taking place in the current era and its implicit value to the economy (BIS, 2005, p. 1-391). The Dodd Frank Wall Street Reform and Consumers Protection Act introduced by the Federal government was claimed to bring about a remarkable change in the history of financial services legislation in U.S. The Federal government had decided to introduce this law or policy, just after occurrence of the financial crisis in U.S. in 2007. The Act was passed for reforming traumatic monetary market conditions in U.S., since the incidence of financial crisis. Nonetheless, after its implementation, it could be said that the law was less beneficial to the U.S. economy than that expected during implementation (Stinson Leonard Street, 2013). Along with numerous sets of provisions, several implementation timeline was settled, under the regime of this law. The context of the paper tends to state that after implementation, the Dodd Frank Act still comprised certain deficiencies. At present, in 2013, President Obama has declared to conduct a special meeting with the regulators regarding this very Act. The President claimed that the Dodd Frank Act, which aimed to bring about ambitious financial reforms in U.S., was not effective in several ways. Obama stated that progress of the Act must be accelerated with renewed efforts made for bringing about productive housing and general financial reforms. The