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In response to the drop-off in asset prices and the beginning of the financial meltdown, banks and regulators took

drastic actions to stave off a full-blown depression. Banks took enormous write downs on their investments and U.S. regulators alone pledged more than $700 billion to support ailing financial firms. Meanwhile, legislators crafted a sweeping financial reform bill that was passed in July of 2010 and known as the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).

Do you think that the cost of the government bailouts

was worth it? Do you think that the initial response was necessary to prevent a collapse of the financial system?

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