Compliancex

Christopher Dodd, the Dodd in Dodd-Frank, is a happy man. He’s been silent for a while, but he chose just the right time to pipe up. In light of the JP Morgan $2 billion debacle, former Senator Dodd feels vindicated and can almost be seen dancing around saying “See, I told you so!”

“This was a big deal, it might have sounded like a minor glitch but there were some major commitments made here,” said Dodd, speaking to Reuters on the sidelines of a Moscow conference, when asked about the JPMorgan trade.

“It is indicative to me of the importance of the legislation that I co-authored,” said Dodd, who wrote the reform law with Representative Barney Frank. “There’s nothing perfect about any legislation, but had we had not done what we did with that bill … we could be right back in major economic difficulties again.”

Dodd says JPMorgan loss proof of legislation need