In July 2010, there was a law that helped many investors and the great American taxpayers in a great way and has paved way for many great things today. This is the Dodd-Frank derivatives and it was signed by the US President Barack Obama in the Ronald Reagan Building in Washington DC. The Dodd-Frank derivatives is all about a response to the Great Recessions that happened years ago in the US and this made a great impact in the financial regulation in the country. Here are the great benefits that you get, as an American taxpayer and an investor with the Dodd-Frank derivatives.
The Dodd-Frank Derivatives is all about making the finances of the country more stable than ever. It monitors and researches the state of the economy and clarifies the comprehension supervision of bank holding companies by the Federal Reserve. This means that the Federal Reserve, by the Dodd-Frank Derivatives, is tasked to monitor the movement of the economy and make sure they report everything to the government if there were any problems to it, big or small. There is also the Financial Stability Oversight Council which uses the Dodd-Frank Derivatives for their duties like to enhance the integrity, efficiency, competitiveness and stability of the United States financial markets for example. In turn this gets the American taxpayer and the investors confident in their money being used for.
Another good thing about the Dodd-Frank Derivatives is that it gives confidence to the taxpayers and the investors with the help of the transparency method that this act gives. It gives the taxpayers of the country the right to know where the flow of money is going and where it is going at the last part of the journey. They want to know what the government uses it for and how is their money used in their finances. The government is obliged to do so with the Dodd-Frank Derivatives and so they will give the ones who are filing for transparency everything they need to know until they are satisfied. Also they are going to make such procedures in an orderly fashion so that the ones who ordered for such transparency will easily find and track their money.
The Dodd-Frank Derivatives makes the taxpayers, investors and insurers confident of the money they have invested in the government and other insurance companies. The Department of Treasury and the Federal Insurance Office is tasked to monitor all aspects of the insurance industry with the exception of health insurance, some of the long term care insurance and crop insurance and then find the gaps in the regulation of the insurers which might contribute to a financial crisis.
The Dodd-Frank Derivatives has many different benefits that could really help the US taxpayers and its citizens and also it helps in protecting the country against another Great Recession. Hopefully the Dodd-Frank Derivatives is enough to hold off and even alleviate the problems of the Recession.