[OPINION] Dodd-Frank in retreat

too-big-to-fail-hbo-paul-giamatti-andrew-ross-sorkin-william-hurtThe Wall Street Journal

(Editor’s note: Opinion pieces are posted for discussion purposes only.)

It’s been a rough few weeks for President Obama’s signature reform of American finance. Across Washington deep cracks are appearing in the foundations of the Dodd-Frank law Mr. Obama enacted in 2010.

A federal judge has knocked down a major decision from Mr. Obama’s Financial Stability Oversight Council. Also, a federal appeals court panel is questioning the constitutionality of Mr. Obama’s Consumer Financial Protection Bureau. On Wednesday regulators officially declared that most of the nation’s banking giants are still too big and too complicated to fail.

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