This is important because, thanks to the 2010 Dodd-Frank law, it is now the job of the Treasury secretary to spot financial icebergs.

WSJ: Review & Outlook: Treasury Gets a Citibanker

And soon after taking office, I proposed a set of reforms to empower consumers and investors, to bring the shadowy deals that caused this crisis into the light of day, and to put a stop to taxpayer bailouts once and for all. (Applause.) Today, thanks to a lot of people in this room, those reforms will become the law of the land.

WHITEHOUSE: Signing the Wall Street Reform and Consumer Protection Act

Because, thanks to a recent law change, no taxes are paid on 529 plan earnings, this has the effect of turning corporate debt into tax-free debt.

FORBES: Magazine Article