Mary L. Schapiro: “No. We should not guarantee that nobody fails. We should allow institutions to fail.”

The worst result I think we could have would be for investors to lose confidence generally again, as they did after Enron, in the quality and the integrity of financial statements.

Following the biggest financial crisis since the Great Depression, Congress passed legislation that is already reshaping the U.S. regulatory landscape.

It is a symptom of the times and a political culture that is quite frankly seriously 'nuts.'

The Dodd-Frank Act significantly changes the SEC's regulatory landscape.