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Barney Frank Says GE's Financial Sales Show Regulation Can Work

“General Electric's moves to divest most of its real-estate and financial-service assets demonstrate that a key provision in a post-financial crisis law imposing tougher rules on "systemically important" firms' is working, a key architect of the legislation said on Monday.

"It shows that it works, but it also shows that being designated a systemically important is not a big kiss (from regulators)," former Rep. Barney Frank, D-Mass., told The Deal after speaking at a Better Markets event to mark the five-year anniversary of the Dodd-Frank Act.