In his very public resignation from Goldman Sachs last week, Greg Smith talked about the toxic and destructive environment at his former firm, which he says put making money ahead of the client. Yet, last month, a cover story in New York magazine made the case that the big financial firms have been on a mission to reform their risky, reckless practices. Which position is correct? Observers feel Dodd-Frank put a leash on Wall Street by imposing reduced compensation packages and increased capital requirements, but that it has done nothing to change the behavior or questionable ethics that contributed to the financial mess.

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