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Dodd-Frank: Resolution or Expropriation?

3 Pages Posted: 8 Sep 2010 Last revised: 8 Mar 2012

Kenneth E. Scott

Stanford Law School

Date Written: August 25, 2010


The 2010 financial reform law provides a summary procedure whereby the government can take over and liquidate a non-bank financial company if the Treasury Secretary decides it is in danger of a default with serious adverse economic consequences. The Constitution requires due process of law for the seizure of property, and this note describes the procedure provided. It is so truncated and minimal as to raise considerable doubt that it is valid under all prior standards.

Suggested Citation

Scott, Kenneth E., Dodd-Frank: Resolution or Expropriation? (August 25, 2010). Available at SSRN: or

Kenneth E. Scott (Contact Author)

Stanford Law School ( email )

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United States
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