16 of 16 people found the following review helpful
The Real Deal,
This review is from: The New Financial Deal: Understanding the Dodd-Frank Act and Its (Unintended) Consequences (Hardcover)
My advice is: read this book. Its subtitle promises "Understanding the Dodd-Frank Act and its (Unintended) Consequences," and it delivers. Skeel is a bankruptcy expert at Penn Law, and he views Dodd-Frank through the prism of bankruptcy. Short, crisp sentences, a bullet-pointed introduction to each chapter, and references that bounce from Churchill to baseball to the Bible make The New Financial Deal a great introduction to the mechanics of Dodd-Frank. The book is admirably lean (clocking in at a mere 193 pages), filled with muscular prose and emphatically not written in typical legal scholarese.
Skeel starts from the premise that bankruptcy works. We should have relied on it more during the financial crisis of 2008, Dodd-Frank is flawed because it rejects bankruptcy principles, and that the solution is...a little more bankruptcy. Whether or not you agree with Skeel's bankruptcy-centric view of the world, his argument functions as a plot, allowing him to relate the provisions to one another in a coherent narrative. The bottom line: enjoyable, understandable, and informative. In terms of financial history, who could ask for anything more?