In giving Dodd-Frank the Botox treatment, Congress misses the point of what's wrong with financial regulation: It's an old mess.
Mick Mulvaney has only been in charge of the Consumer Financial Protection Bureau for two months, but he's already made many decisions that will leave consumers worse off.
Republicans are hoping to eliminate or at least defang the only federal agency tasked solely with protecting consumers from financial abuses. What would we miss if they succeed?
Instead, we need to burn the entire system of financial regulation to the ground and replace it with something that supports investing the way it's done today.
The US wants to repeal controls imposed seven years ago on the trade of some Congolese minerals. The president's reasons might be all wrong. But the law was badly put together in the first place.