Turn of the wheel

摘要

TEN days after he became America's 45th president in January, Donald Trump vowed to "do a big number on Dodd-Frank", the elephantine law that recast financial regulation after the crisis of 2007-08. Soon after, he asked his treasury secretary, Steven Mnuchin, to measure all America's rules (not just Dodd-Frank) against seven broad principles, including the prevention of bail-outs by the taxpayer and making regulation more efficient.