In case you missed the recent Wall Street Journal article on bank regulation, I thought this might make you feel better. I wish I could provide a link, but I can't find the article. If I can, I'll add it later.

Anyway, now that Dodd is gone and Frank will be too in a few months, I thought you might be interested in the recent report on how--rather who--is converting the expansive and complicated Dodd-Frank Financial Reform bill into the regulations that will protect the public from a repeat of the 2008 near meltdown of our banking system.

It starts with the senior officials in the Treasury Department who are supposed to be there to direct the creation of regulations based on the law which was passed. Unfortunately, because of the political stalemate in Washington, those key officials who have been nominated by the POTUS to fill key positions in the Treasury Department have not yet been confirmed by the Senate. They're just a few of the dozens of senior appointees that the GOP is using all the rules at their disposal to block voting on the confirmation of their appointments.

What's the result? The only people in the Treasury Department left to implement the law are a few people at the Assistant and Deputy Secretary level. In this case, the three key people charged with the responsibility of converting the law into regulations have a total age between them of only 90 years. Only one of the three inexperienced young men have any experience in banking at all--one was a credit analyst for a bank for about a year after he got his MBA. ("Credit Analyst" is an entry-level position in almost any bank.) All three have spent their entire short careers working in the government. The regulations that they produce and order be implemented recieve only a cursory review by a Treasury official several levels senior to the three young regulators.

Does this give you a feeling of confidence that our government is working as it should? For those of you that are against any regulation, this isn't working too well either. What would you think is better, bad or ineffective regulations authored by people with no experience or no regulations at all?