Where Randal Quarles Stands on Regulation

The transcript discusses the shortcomings of the Dodd-Frank Act, highlighting its design flaws and political influences. It critiques specific provisions like the Volcker Rule and the CFPB. Randal Quarles' perspective on financial regulation is explored, noting his alignment with modern Republican orthodoxy. The influence of advisers such as Steve Schwarzman on President Trump's policies is examined. The challenges of changing financial regulations and the power dynamics involved, including the role of Elizabeth Warren, are also discussed.

What was one of the criticisms of the Dodd-Frank Act mentioned in the video?

• It completely ignored the banking industry.

• It was a failure of ambition and influenced by political pressures.

• It was overly simplified and easy to implement.

• It was too aggressive in its approach.

Which regulatory bodies are mentioned as having overlapping structures?

• The SEC and the IRS

• The Fed, FDIC, OCC, and the Treasury Department

• The World Bank and the IMF

• The CFPB and the FTC

How does Randal Quarles view the financial regulatory structure?

• Through the lens of modern Republican orthodoxy

• As a supporter of the CFPB

• As a proponent of aggressive regulation

• With a focus on international cooperation

Who is identified as a key advisor to President Trump in the video?

• Elizabeth Warren

• Janet Yellen

• Steve Schwarzman

• Antonio Weiss

What political challenge is mentioned regarding the repeal of Dodd-Frank?

• The lack of support from the banking industry

• The requirement of 60 votes to overcome a filibuster

• The need for a simple majority in Congress

• The opposition from international regulators