Dodd-Frank a 'disastrous mistake' according to Alan Greenspan

Our newly elected president Donald Trump may have a friend in Alan Greenspan, who agrees with Trump in the idea that the Dodd-Frank Act, which was created after the financial crisis in 2008 is not a good thing for the American economy.  This act requires banks to hold extra cash in their reserves in case of an emergency, they also have to go through "stress tests" to see how they would perform in time of a crisis.  Advocates of this act like former FED Chair's Ben Bernanke and Janet Yellen believe it has made banking safer where at the same time critics believe it limits business and hurts the bank's profits by raising legal costs.  One of the first things Trump wants to do as president is get rid of the Dodd-Frank Act and help stimulate the economy once again.  With getting rid of the act he also wants to replace Janet Yellen as the chair of the FED because he does not think she performed well during her tenure in charge.  Overall the Dodd-Frank act does seem to make banking secure but definitely restricts a lot of things that could be done with banking and in our economy.