Kashkari, in introducing his proposal, stated that before Congress approved the Dodd-Frank financial reform bill during the Obama administration, the risks of the U.S. suffering from another big banking crisis amounted to some 84 percent. The enactment of Dodd-Frank significantly reduced such risk to just 67 percent, Kashkari added. But this is still much too high, especially given the ability of major financial crises to cause trillions of dollars in losses to the U.S. economy and the world.
