The Wall Street Journal posted an editorial this morning about the 2010 Dodd Frank law. The law is a mass of overregulation put in place after the financial crisis of 2008 that actually does nothing related to the cause of the financial crisis of 2008. (If you still believe the mainstream media about the financial meltdown of 2008, I suggest you watch the this video.) Dodd Frank is sheer legislative mush that accomplished nothing, written and sponsored by some of the people who caused the problem in the first place. Well, wait a minute, it actually did accomplish something.

The Wall Street Journal reports:

Liberals like Sen. Elizabeth Warren (D., Mass.) are treating the 2010 Dodd-Frank financial law as holy writ because she says it punishes the big banks. But then why is Lloyd Blankfein so content? On Tuesday at an investor conference, the Goldman Sachs CEO explained how higher regulatory costs are crushing the competition.

“More intense regulatory and technology requirements have raised the barriers to entry higher than at any other time in modern history,” said Mr. Blankfein. “This is an expensive business to be in, if you don’t have the market share in scale. Consider the numerous business exits that have been announced by our peers as they reassessed their competitive positioning and relative returns.”

The real problem with overregulation is that it leads to crony capitalism. Dodd Frank is another example of the government passing laws that make it harder for the average American to create and run a business.