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The Dodd-Frank Act does not provide sufficient protection against another major financial crisis. A better regulatory system would promote financial stability by correcting the key market failures that lead to excessive risk taking by Strategically Important Financial Institutions (SIFIs). Regulatory policies centered on contingent capital would offer a clearer and purer market signal when a SIFI is performing poorly and trigger steps to mitigate the financial risks.
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Smetters, Kent and Pericak, Christopher, "Regulating “Too Big to Fail”" (2013). Penn Wharton Public Policy Initiative. 13.