The Dodd-Frank law is pushed as a necessity for regulating banks. But its impact on bank capital has been irrelevant, yet it hasn't stopped its defenders from making arguments that are dangerously false.
UPDATE, April 20: On March 30 a US District judge reversed a government ruling that MetLife was "too big to fail." The House meanwhile is putting Dodd-Frank on an actual budget. Government hacks are up in arms.