QUOTE

Barney Frank, the Massachusetts Democrat who is the co-author of the Dodd-Frank financial regulatory overhaul, is questioning how regulators will enforce a central provision in his law. [...] Mr. Frank said regulators should clarify “well in advance� of July “what, if any, compliance will be required between the statutory effective data and the date when a rule is issued.�

Note that this is a legislator, supposedly the author of a law, asking regulators how/whether they’ll enforce it, and to clarify/alter it to make it simpler. (The law that he ‘co-authored’.)

I wonder what it was like back in the olden days when legislators, rather than regulators, made laws? I wonder what it would be like to live in a country where the legislature didn’t rush through, to great acclaim, laws that they didn’t actually understand? Ah well.