The Shadow Financial Regulatory Committee seems composed by besserwissers who do not know what they are talking about

The Shadow Financial Regulatory Committee, a group of academic critics of federal financial regulatory policies met on December 10, 2012, and elaborated on its critique of Dodd-Frank as “not accounting properly for the risks and costs of the programs and for reinforcing incentives to engage in risky activity that increases the risk of future bailouts”.

These besserwissers have no idea of what they are talking about. The current incentives, much lower capital requirements for banks when lending to "The Infallible" than when lending to "The Risky" are all aligned towards making the banks engage in what is perceived as absolutely safe activities… and which of course, by handing out incentives that will sooner or later lead to a dangerous overpopulation of the safe-havens, increases dramatically the risk of future bailouts. 

Now they have a meeting on May 13, 2013, and I sure hope and pray, they have learnt something in the interim.