Half of bankers believe Dodd-Frank won't be effective.

• Position: Extreme makeover

Nearly 58 percent of bankers believe that the overall financial reform will not be effective in detecting broad risks to the financial system and preventing or reducing the threat of a future taxpayer-funded bailout, according to Grant Thornton LLP's 18th Bank Executive Survey, conducted in conjunction with Bank Director magazine.

Also, only 39 percent of bankers believe that financial reform will be effective and of those...