(Source: The New York Times By SIMON JOHNSON) – The Dodd-Frank financial legislation of 2010 created a Financial Stability Oversight Council, tasked with taking an integrated view of risks in and around the financial sector in the United States. Known as the FSoc (pronounced EFF-sock), the council comprises all leading regulators and other responsible officials, headed by the Treasury secretary.So far, it has done little — reflecting the predominant official view that in the post-crisis recovery phase, financial risks in the United States are generally receding.

Source: The New York Times By SIMON JOHNSON

September 1, 2011, 5:00 am

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