Scott Bessent, secretary of the U.S. Treasury and pretend soybean farmer, is here to shake things up in the financial regulation space, and by “shake things up” I mean “get rid of all the regulations.”

Bessent’s latest bold proposal is to kneecap the Financial Stability Oversight Council. Created after the 2008 financial crisis to help prevent a recurrence, the FSOC is intended to serve as an oversight and regulatory body.

But instead of having oversight and regulation, Bessent dares to dream, what if we didn’t?

Instead of overseeing and regulating, the FSOC will now “work with and support member agencies in considering whether aspects of the U.S. financial regulatory framework impose undue burdens and negatively impact economic growth, thereby undermining financial stability.”

This is

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