In 1996, Martha Finnemore noted in National Interests in International Society that no matter how technical international organizations might seem, they “are never neutral forms.” In his new article, Alexander Reisenbichler, former DAAD/AICGS fellow, studies the domestic sources and power dynamics of regulatory networks using the example of the financial stability forum (FSF), a regulatory …Read More

The American response to the 2008 crisis produced the Dodd Frank Act, which not only changed the paradigm of financial regulation in the U.S., but also featured extra-territorial applications of its regulatory provisions which apply to foreign banks operating inside the United States. While criticism over the DFA persists, the financial sector has undoubtedly been transformed by this critical initial step of broader global regulatory reform.

Recent action by the European Central Bank, as well as the lag of the banking sector behind capital markets in the United States, point to the lasting effect the 2008 crisis has over American and German economies. After the crisis, debate has arisen over how best to regulate the banking sector so that taxpayers will never again be burdened by the mistakes of financial institutions.

Kastner_Lisa

Lisa Kastner is a Doctoral Researcher at the International Max Planck Research School on the Social and Political Constitution of the Economy (IMPRS-SPCE), Cologne. Ms. Kastner was a DAAD Fellow at AICGS in February and March 2014. In her dissertation, supervised by Prof. Dr. Cornelia Woll, she examines lobbying of financial reforms in the United …Read More

In the wake of the global financial crisis, the United States and the European Union have acted not only to recover from the crisis, but also to implement regulatory reforms to prevent another crisis of this magnitude in the future. The path to reform, however, has not been smooth. Political debates over fundamental issues have slowed progress toward making meaningful reform in regulating the financial sector.

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