Bloomberg View: The Red Tape That's Choking Financial Reform
Interagency turf battles are delaying Dodd-Frank. It’s time for another overhaul
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In Washington they call it being taken to the woodshed. That’s what happened when President Barack Obama summoned nine financial regulators to come in for a talk. The president wanted to know what’s taking them so long to write the rules needed to make sure the 2008 economic crisis won’t be repeated.
It’s been more than three years since the Dodd-Frank financial reform law passed. Yet less than 40 percent of the law’s requirements have been met.