Two for one
If nothing else, we know the new regime in the US likes a good punchy sound bite. As many of us predicted, President Trump and his team have their sights firmly set on loosening the burden of Dodd-Frank and other regulatory sets that they feel make for a hostile business climate.
The tagline of Trump’s executive order for regulatory reform is “two for one” – for every new regulation issued, two must be identified for elimination. Sounds like a simple “yeah let’s cut the fat” kind of idea at first pass, doesn’t it? But while it sounds like a noble goal, the reality is that it’s much more complex. We all know that without specifics, attempts to change the rules can quickly run amok. Regulators can get so bogged down in the details that a grand attempt at simplification quickly turns into a mass of complication.
“Two for one” is always a welcome offer at the pub after work – less so when it comes to shifting policy.