Former FDIC Chairman: Wall Street won

Washington still thinks they did a great job following the crisis, but these are also the same people who think it makes sense to stay in Afghanistan and Iraq. The sad excuse that some think was Wall Street reform failed to go far enough. As Bill Isaac says, the problems that created the meltdown are still there so there's no reason to think that Dodd-Frank will do anything to prevent the next bank problem. Yahoo!

The Dodd-Frank reform bill--the one major piece of legislation to emerge since the financial crisis--is mostly meaningless, says Isaac, who is also the chairman of regional bank Fifth Third. Dodd-Frank does nothing to address the root causes of the financial crisis, Isaac says, and it won't prevent the next one.

Specifically, Dodd-Frank will just create more bureaucracy and red tape. Meanwhile, our biggest banks are still 'Too Big To Fail.' Our commercial banks are still allowed to take way too much risk. Our regulators are still balkanized and political. And we still haven't addressed Fannie Mae and Freddie Mac.