Alan Greenspan thinks it will be “nearly impossible” to repeal Dodd-Frank

Miami /
Jan.January 19, 2017 11:15 AM

From the New York website: Alan Greenspan, the 90-year-old former Federal Reserve chair, doesn’t think Donald Trump would be able to completely dismantle and repeal Dodd-Frank even if he tried.

The comments were made at the Private Equity International CFO & COO’s Forum in New York on Wednesday.

“The complexity of unwinding such regulation embedded in the system makes it nearly impossible. The Trump administration might take half of it down, but I don’t think that’s enough,” Greenspan told attendees at the forum, Private Equity Real Estate reported.

Greenspan, who chaired the Federal Reserve from 1987 to 2006, said if incoming President Trump managed to repeal the act, it would be a “remarkable event.”

Though he’s not a fan of the landmark law, Greenspan conceded that there was one positive element: increased capital requirements. A requirement of 20 percent of capital retained rather than invested should remain, according to Greenspan.

A Dodd-Frank repeal would likely have a bigger impact on the residential market, where the law has added a number of safeguards against reckless and predatory lending.

In late November, The Real Deal explored how Trump could shake up real estate finance as president. [PERE] — Gabrielle Paluch


Related Articles

arrow_forward_ios
Donald Trump, Eric Trump and Donald Trump Jr with 1125 South Ocean Boulevard (Premier Estate Properties, Getty)
Trump’s Palm Beach estate listed for rent asking $208K a month
Trump’s Palm Beach estate listed for rent asking $208K a month
A photo illustration of prominent guests at the Witkoff wedding (via Instagram)
Nuptials Mar-a-Lago style: Donald Trump, Don Peebles, Barry Sternlicht among real estate elite at Witkoff wedding
Nuptials Mar-a-Lago style: Donald Trump, Don Peebles, Barry Sternlicht among real estate elite at Witkoff wedding
Donald Trump and Grant Cardone (Cardone Enterprises)
Presidential surprise: Donald Trump kicks-off Grant Cardone’s 10X Growth Conference
Presidential surprise: Donald Trump kicks-off Grant Cardone’s 10X Growth Conference
Donald Trump and The Mar-a-Lago Club in Palm Beach (Getty Images, LoopNet, iStock/Illustration by Steven Dilakian for The Real Deal)
Trump’s toilet triumph: Guests of the former No. 1 will have more places to go No. 2
Trump’s toilet triumph: Guests of the former No. 1 will have more places to go No. 2
Eric and Lara Trump with 502 Bald Eagle Drive in Jupiter (Getty, Google Maps)
Trump town: Eric and Lara buy home near Don Jr. in Jupiter
Trump town: Eric and Lara buy home near Don Jr. in Jupiter
Fontainebleau Miami Beach, Jeffrey Soffer and former President Donald Trump (Ebyabe/Wikipedia, Getty, iStock)
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
Gil Dezer (Photos by Sonya Revell)
The Closing: Gil Dezer
The Closing: Gil Dezer
Brad Parscale and 2319 Desota Drive (Getty, Google Maps)
Brad Parscale, ex-Trump campaign manager, sells Fort Lauderdale home
Brad Parscale, ex-Trump campaign manager, sells Fort Lauderdale home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...