We argue that implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act has contributed significantly to the reduction of systemic risk in the United States. However, Dodd-Frank also introduced burdensome rules that have little to do with systemic risk. This article evaluates the trade-off between capital regulation and regulation of scope in the context of Dodd-Frank, with a particular emphasis on the Volcker Rule. Recent regulatory reforms aimed at rolling back Dodd-Frank are evaluated and discussed.

中文翻译：

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放松对华尔街的管制

我们认为，《多德-弗兰克华尔街改革和消费者保护法》的实施对降低美国的系统性风险做出了重大贡献。但是，多德-弗兰克（Dodd-Frank）还引入了繁琐的规则，与系统性风险无关。本文在Dodd-Frank的背景下评估了资本监管与范围监管之间的权衡，其中特别强调了沃尔克规则。评估和讨论了旨在减少Dodd-Frank的最新监管改革。