Financial Stability Oversight Council Takes Actionon January 19th, 2011 at 10:50 am
There are big picture issues, and then there are big, big, big picture issues. This is one of the latter. The most important part of the Dodd-Frank financial services legislation enacted in 2010 may turn out to be the creation of the Financial Stability Oversight Council. These developments are of special importance to current law students because current students, unlike any of the lawyers they will ultimately be working for and/or with, have the opportunity learn about new law and regulation in law school and build a mental working model of financial services regulation that is based on its most current design. Every other lawyer is busy learning reams of new law, reconstructing the models under which they have worked for years, sometimes decades, while trying to maintain their legal practices. New law presents a great opportunity for law students. Carpe diem!