The Wall Street - Main Street Nexus in Financial Regulation: Business Coalitions Inside and Outside the Financial Sector in the Regulation of OTC Derivatives


In this chapter we contend that while financial industry groups have played an important role in shaping post-crisis regulatory reform, this influence has remained conditional on their capacity to adjust their advocacy strategies in response to the changes in the new regulatory environment triggered by the crisis. As the crisis has weakened the capacity of the financial industry groups to preserve the status quo by usual means, the capacity of financial industry to shape the content of regulatory policies has been increasingly determined by their capacity to tie their interests to those of a broader range of stakeholders outside of the financial industry.

Chapter included in the volume “Great Expectations, Slow Transformations Incremental Change in Post-Crisis Regulation”, edited by Manuela Moschella and Eleni Tsingou, ECPR Press, 2013