Quote from MKTrader:
What did Dodd-Frank do? Go after retail FX traders with their $300 Oanda accounts? Make life much harder for small businesses? Yes and yes.
Did it do anything to the Big 3 drivers of the financial crisis: Fannie, Freddie and the Fed? No. What about TBTF banks? It actually strengthened them further.
There were already over 10 agencies regulating CDSs before the crisis. That's not the issue. Ultra-low artificial interest rates + (unfortunately true) assumption that TBTF banks would get their baliouts was.
You have to dig deeper and stop believeing headlines and comic book versions of events...