The Dodd-Frank Act of 2010 has legalized the heretofore de facto protection of a few too-big-to fail financial institutions. The executives of these institutions and the Federal Reserve chief who protects them were blamed by the Financial Crisis Inquiry Commission for causing the 2008 financial catastrophe. Even the Federal Reserve chief has stated that the 2008 financial catastrophe was worse than the Great Depression.
The few legally protected too-big-to fail financial institutions can now bet, with impunity, against private hedge funds, mutual funds, household investors and even the dollar which is repertoire of the hard-earned wealth of every American.
Legalized robbing of hard-earned wealth through such bets by a few who do not produce anything or serve anyone not only makes private investors and entrepreneurs forfeit the values of their labor but also cut back their investments in business enterprises that create jobs. Without jobs, the unemployed lose the opportunity to work and save for liberty from government doles. The Dodd-Frank Act has, thus, legalized slavery of those who work or want to work by a few who do not work to produce anything or serve anyone.