wall-street

Don’t Buy the Hype: Trump’s Dodd-Frank Order a Whole Lot of Nothing

It is a familiar plot device in government that, when you have no idea what to do, you put out a statement of “core principles.” These sound fundamental, suggest some future action, but avoid controversy because they are so high level and general that almost everyone can agree with them.

Nevertheless, the White House actually got a lot of political mileage out of something that didn’t amount to much.

The Wall Street Journal, perhaps indulging in a bit of wishful thinking, even editorialized that, “President Trump is focusing early on rolling back regulation, and on Friday he took another good step with directives to peel back Dodd-Frank and the Labor Department’s fiduciary rule.”

That’s reading a lot into a little.

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