Week InReview: February 10, 2017

"...Dodd-Frank is an act of Congress that can't be repealed by executive order or regulation; all the Treasury Secretary can really do is come up with a list of laws that don't meet [the 'Core Principles for Regulating the United States Financial System' issued by executive order on Feb. 3], and then try to persuade Congress to repeal them. Congress, though, seems to be amenable; on Friday, the Senate voted to repeal a small part of Dodd-Frank, a rule that 'requires oil companies to publicly disclose payments made to governments when developing resources around the world.' That doesn't have much to do with any principles, core or otherwise, of financial regulation, though I suppose 'it should be easier for companies to make undisclosed payments to government officials' could be a core principle of some sort." Matt Levine - Matt Levine's Money Stuff Fiduciaries, Rules and Progressives Feb 5, 2017

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