Repeal Dodd-Frank and replace it with what? "Possible replacements are unlikely to work or to be politically feasible," writes New York Times Dealbook columnist Steven M. Davidoff.

Dodd-Frank shouldn’t get the blame for big banks getting bigger, he argues and "repealing Dodd-Frank will not make these banks go poof and disappear."

Just instituting higher capital requirements or leverage limitations for the biggest banks  might appeal to Romney. Such an approach would have the same effect as Dodd-Frank in making it "more costly to be a 'too big to fail' bank," but "would leave a future administration gasping if one of these banks went down," Davidoff writes.

Alright though, the stuff on conflict minerals, "what this has to do with the financial crisis is beyond me," he concedes.

For the full piece see "Despite Its Problems, Dodd-Frank Is Better Than the Alternatives" (may require subscription).