did the dood-frank financial reform legislation replace the glass-steagall act, and did this help to end the great recession of 2008-2009? no. glass-steagall regulated commercial and investment banks, and has not been replaced. no. dodd-frank regulated real-estate investment trusts, not banks. no. dodd-frank led to the abolition of the federal national mortgage association (otherwise known as fannie mae). yes, and no. while dodd-frank re-regulated the financial services industry to a limited extent, the legislation itself did not have any role in restoring consumer demand, revitalizing the automobile industry, or expanding emergency aid to displaced workers, all of which were features of the american recovery and reinvestment act of 2009.
