Furthermore, the origins of some features of the legislation rested as much or more with Republican than Democratic legislators, such as the section 165 requirement for resolution plans that will make systemically important firms resolvable in bankruptcy without requiring taxpayer support or resulting in major disorder in the financial system.
The Nature and Impact of the New Regulatory Regime Now let us fast forward to the present. Less than a decade after being the epicenter of a global financial crisis, today the United States has the strongest and most diverse financial system of any major economy in the world.