WSJ: Need to cut Mammoths down to size

Trump Team Proposes Broad Rethink of Financial Rulebook

The Trump administration proposed a wide-ranging rethink of the rules governing the U.S. financial sector in a report that makes scores of recommendations that have been on the banking industry’s wish list for years.

The report, described in a summary provided by the Treasury Department on Monday, gives the most detailed roadmap yet for President Donald Trump’s promise to revisit a wave of regulations put in place after the last financial crisis, affecting activities from mortgage lending to Wall Street trading.

If Mr. Trump’s regulatory appointees eventually implement them, the recommendations would neuter or pare back restrictions from the Obama administration, which argued the rules were necessary to guard against excessive risk taking and a repeat of the 2008 financial crisis.

Personally I’d like to see a rule that limits a “corporation” to a maximum size. THe only way I can think of it is that balance sheets should be limited to some number of digits. Maybe $999,999,999?

Over that size and it has to divide into smaller units with no interlocking parts.

The Gooferment did it to the Bell System. Why not Facebook, Apple, Amazon, Netfix, and Google?

Seems like a good idea to me?


Categories WSJ