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Keyword: cra

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  • Loathing and Loving the Congressional Review Act

    05/19/2017 7:09:20 AM PDT · by Jacquerie · 2 replies
    Article V Blog ^ | May 19th 2017 | Rodney Dodsworth
    Subtitle: How to Neuter the Administrative State. Newt Gingrich’s 1996 Congressional Review Act (CRA) is a Constitutional counterthrust to an unconstitutional fact of life. Presented in the form of regulations, the executive branch writes most of the laws we live under, in violation of Article I § 1. Loathing the CRA. In this inverted reality of legislative power, unelected bureaucrats write the laws for the nation. Agencies do not submit proposed regulations for congressional approval. Instead, in our corrupted system, regulations go into effect unless congress and the president stop them! I loathe the CRA because, without saying, it elevates...
  • Trump's Use of the Congressional Review Act Is a Legislative Milestone

    04/15/2017 9:11:14 AM PDT · by davikkm · 41 replies
    breitbart ^ | JOEL B. POLLAK
    On the campaign trail, President Donald Trump promised to roll back federal regulations. And at the Conservative Political Action Conference (CPAC) in February, chief strategist Steve Bannon said that the goal of the administration was the “deconstruction of the administrative state.” Trump has delivered on those pledges, signing over a dozen laws reversing Obama-era regulations, marking the most substantial legislative achievement of his first 100 days in office. Politico has downplayed Trump’s slew of repeal laws, describing them as “the only substantive bills Trump has signed so far.” And, in keeping with a media-wide effort to separate Trump from his...
  • Trump and Congress can jumpstart improvements to interstate highways in Southern California

    02/15/2017 7:38:04 AM PST · by Tolerance Sucks Rocks · 27 replies
    The Orange County Register ^ | February 5, 2017 | Robert Poole
    President Trump has promised to eliminate regulations and rebuild the nation’s aging infrastructure. Federal agencies are awash with regulations and provisions based on the presumption that government is, and should be, the sole provider of infrastructure. But now that we understand the merits of public-private partnerships, which can provide more accountable public-purpose infrastructure, these numerous regulations and provisions serve as major obstacles preventing the improvement of highways and other infrastructure. Back in 1995, Reason Foundation published a policy study itemizing a number of these regulatory barriers. Sadly, most of them still exist today. If a state or municipal facility has...
  • Overnight Regulation: House Republicans highlight top rules for rollback [Obama failed 2 follow CRA]

    01/27/2017 12:24:16 PM PST · by WENDLE · 32 replies
    The Hil ^ | January 25,2017 | BY TIM DEVANEY AND LYDIA WHEELER
    THE BIG STORY House Republicans unveiled their plan of attack against Obama-era regulations Wednesday, highlighting the top rules they plan to roll back. The Labor Department's blacklisting rule, Environmental Protection Agency's (EPA) stream protection rule, Interior Department's methane emissions rule, a disclosure rule from the Securities and Exchange Commission (SEC), and an obscure gun regulation from the Social Security Administration (SSA) top the list of regulations Republicans are targeting. GOP lawmakers will turn to the Congressional Review Act to strike down these rules.
  • CRA: The "Regulatory Game Changer" That Could Wipe Out 8 Years Of Obama Regs In An Hour

    01/27/2017 6:23:20 PM PST · by blam · 42 replies
    Zero Hedge ^ | 1-27-2017 | Tyler Durden
    After a pompous, liberal agenda was crammed down the throats of the American people during his first two years in office, President Obama suffered staggering losses in Congress for the next six years that cost Democrats control of both houses. But, heavy Democrat losses, courtesy of an electorate that vehemently rejected a far-left agenda, didn't stop Obama from continuing to push through countless new rules and regulations from the White House all while pushing his authority to the brink of every Constitutional boundary known to man. Of course, the problem with "legislating from the White House" is that all those...
  • Uh, Hillary, Your Hubby Caused the 2008 Recession

    09/28/2016 5:12:01 AM PDT · by detective · 18 replies
    American Thinker ^ | September 28, 2016 | Jack Cashill
    On the debate stage Monday night, Hillary Clinton smugly repeated the big lie that Democrats have been telling with something close to impunity since 2008. “We had the worst financial crisis, the Great Recession, the worst since the 1930s,” said Hillary. “That was in large part because of tax policies that slashed taxes on the wealthy, failed to invest in the middle class, took their eyes off of Wall Street, and created a perfect storm.”
  • New Study Finds CRA 'Clearly' Did Lead To Risky Lending [Daniel 4]

    08/04/2015 7:52:58 AM PDT · by Jan_Sobieski · 24 replies
    Investor's Business Daily ^ | 12/20/2012 | PAUL SPERRY
    Democrats and the media insist the Community Reinvestment Act, the anti-redlining law beefed up by President Clinton, had nothing to do with the subprime mortgage crisis and recession. But a new study by the respected National Bureau of Economic Research finds, "Yes, it did. We find that adherence to that act led to riskier lending by banks." Added NBER: "There is a clear pattern of increased defaults for loans made by these banks in quarters around the (CRA) exam. Moreover, the effects are larger for loans made within CRA tracts," or predominantly low-income and minority areas. To satisfy CRA examiners,...
  • Whistleblower: Pelosi Covered Up Role In Crisis

    01/23/2015 7:57:27 PM PST · by roses of sharon · 10 replies
    IBD ^ | 1/22/15
    Subprime Scandal: We've long suspected the Financial Crisis Inquiry Commission wasn't honest in examining events before the meltdown. But an ex-commissioner says the probe was actually a full-blown political cover-up. In a just-released book, former FCIC member Peter Wallison says that a Democratic Congress worked with the commission's Democratic chairman to whitewash the government's central role in the mortgage debacle. The conspiracy helped protect some of the Democrats' biggest stars from scrutiny and accountability while helping justify the biggest government takeover of the financial sector since the New Deal. Wallison's sobering, trenchantly written "Hidden in Plain Sight: What Really Caused...
  • The Republicans' strategy to block Obama’s regulations

    11/30/2014 5:19:02 AM PST · by Cincinatus' Wife · 27 replies
    The Hill ^ | November 30, 2014 | Tim Devaney and Lydia Wheeler
    The GOP is preparing to mount a full-scale assault on President Obama’s regulatory agenda, using the party’s strengthened hand in Congress to delay, soften or block contentious administration rules at every turn. As long as Obama sits atop the executive branch, Republicans’ power to derail scores of rulemaking efforts now under way is limited. But control of both the House and Senate in the next Congress will enable GOP lawmakers to ratchet up their attacks on what they view as overzealous regulation. “So long as we have this president the federal agencies can go around Congress," said Sen. Jim Inhofe...
  • Holder’s Bank of America Heist Funds Left’s Community-Organizer Shock Troops

    08/28/2014 12:59:06 PM PDT · by Ray76 · 11 replies
    National Review Online ^ | Aug 28, 2014 | Andrew C. McCarthy
    Government coercion of the financial sector to make irresponsible loans was the primary driver of the 2007-08 financial meltdown. Now we learn that Eric Holder, the Tom Hagen of this racketeering enterprise of an administration, is using the vig that DOJ muscle is extorting from the banks to pour tens of millions of dollars into the coffers of the radical Left’s top rabble-rousers – in addition to diverting what should be public funds to pay off delinquent debts in cities that Democrats have destroyed.
  • Top Clinton Aides Blew a Chance to Avert the Financial Crisis

    05/02/2014 6:47:48 AM PDT · by Oldeconomybuyer · 7 replies
    Business Week / Bloomberg | May 1, 2014 | By Peter Coy and Silla Brush
    LINK ONLY PER POSTING RULE? http://www.businessweek.com/articles/2014-05-01/clinton-officials-missed-chance-to-avert-2008-financial-crisis?google_editors_picks=true
  • Clinton Library's Doc Dump Reveals CRA Fueled Subprime Bubble

    04/26/2014 5:21:06 PM PDT · by neverdem · 55 replies
    Investor's Business Daily ^ | April 25, 2014 | Masthead Editorial
    Subprime Scandal: Newly released memos from the Clinton presidential library reveal evidence the government had a big hand in the housing crisis. The worst actors were in the White House, not on Wall Street. During the 1990s, former Clinton aides bragged that more aggressive enforcement of the Community Reinvestment Act pressured banks to issue riskier mortgages, lending more proof the anti-redlining law fueled the crisis. A 2012 National Bureau of Economic Research study found "that adherence to that act led to riskier lending by banks," with "a clear pattern of increased defaults for loans made by these banks in quarters...
  • U of M study sees signs of mortgage redlining in Twin Cities

    04/11/2014 7:19:24 AM PDT · by TurboZamboni · 24 replies
    MPLS Star & SIckle ^ | 4-9-14 | JENNIFER BJORHUS
    Minority residents in the Twin Cities are much more likely than white people of similar incomes to be rejected for a mortgage, whether they’re buying a home or refinancing. If the home sits in a diverse or mainly nonwhite neighborhood, the application is also more likely to get the boot. Those are the findings of a new study from the University of Minnesota Law School suggesting that mortgage redlining remains alive and well in the Twin Cities. The report suggests that while banks may have justifiably tightened up credit standards, they have swung so far that they are cutting off...
  • The Financial Crisis: Why Have No High-Level Executives Been Prosecuted?

    01/09/2014 8:35:15 PM PST · by Brad from Tennessee · 61 replies
    New York Review of Books ^ | January 9, 2013 | By Jed S. Rakoff
    Five years have passed since the onset of what is sometimes called the Great Recession. While the economy has slowly improved, there are still millions of Americans leading lives of quiet desperation: without jobs, without resources, without hope. Who was to blame? Was it simply a result of negligence, of the kind of inordinate risk-taking commonly called a “bubble,” of an imprudent but innocent failure to maintain adequate reserves for a rainy day? Or was it the result, at least in part, of fraudulent practices, of dubious mortgages portrayed as sound risks and packaged into ever more esoteric financial instruments,...
  • Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending

    11/06/2013 5:03:00 PM PST · by Titus-Maximus · 16 replies
    Business Insider ^ | 6.27.09 | John Carney
    Finance More: Economy Wall Street Banks Earnings Here's How The Community Reinvestment Act Led To The Housing Bubble's Lax Lending John Carney Jun. 27, 2009, 9:33 AM 103,381 53 Earlier this week I noted that I had changed my mind on the Community Reinvestment Act. Contrary to my initial conclusion, the evidence is overwhelming that the CRA played a significant role in creating lax lending standards that fueled the housing bubble. Once I realized this, I had to abandon my suspicion that the anti-CRA case was a figment of the rhetoric of Republicans attempting to distract attention from their own...
  • Insight: Yellen Feared Housing Bust But Did Not Raise Public Alarm

    11/02/2013 8:20:16 AM PDT · by Son House · 4 replies
    Reyters ^ | Oct 30, 2013 | Marilyn W. Thompson, Ann Saphir and Alister Bull
    In 2004, the new president told risk managers in San Francisco that closer supervision had "made our financial system far more resilient to shocks." In Phoenix that year, she reported "more positive signs in the economy." She flagged real estate as a concern in March 2005, telling a banking group in Hawaii that her staff was examining commercial lending and was concerned about the "easing of credit standards and terms on loans" for home mortgages. But Yellen ended optimistically, concluding that "we don't think widespread problems are likely" and that "industry conditions in many respects are stronger now than they've...
  • Dueling Punch Bowls: Gov’t Mortgage Guarantees And The Fed Stimulus (Holder Declares War!)

    08/21/2013 11:07:16 AM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 08/21/2013 | Anthony B. Sanders
    As President Obama and Congress discuss housing finance reform, we have to discuss the government mortgage guarantee. You know, the one that Fannie Mae and Freddie Mac furiously denied, but it turned out that they were wrong. Since 2008, Fannie Mae, Freddie Mac and the FHA control over 90% of the mortgage market and The Fed has taken unprecedented measures to keep mortgage rates low. Finally, investors are flocking into housing again. Part of the allure is the government mortgage guarantee. Government loves guarantees (and pseudo-guarantees) in the form of social safety nets. Social security, Medicare and other entitlements (that...
  • Those who don’t learn from history are bound to repeat it… Obama pushes sub-prime mortgages… again!

    04/09/2013 10:03:10 AM PDT · by Starman417 · 9 replies
    Flopping Aces ^ | 04-09-13 | Vince
    There’s something macabre about an imminent train wreck, you know exactly what is coming but you can’t help but watching. Now imagine that instead of watching that train wreck from atop a building a safe distance away, you’re standing right between the train and the tanker truck that has stalled on the tracks. That’s a different story all together. At that point, rather than being a mere fascination it’s a matter of life or death. You’ve seen the damage a train wreck can do. That’s why it was fascinating in the first place. The difference now of courses is that...
  • Conservative Justices Doubt Ongoing Validity Of 1965 Voting Rights Act

    02/27/2013 3:59:58 PM PST · by algernon_garnock · 14 replies
    National Public Radio ^ | 02-27-2013 | Nina Totenberg
    It was a historic moment at the U.S. Supreme Court on Wednesday as the justices heard a challenge to the 1965 Voting Rights Act. The landmark law spurred exponential growth in minority voting and is credited with getting many more minorities elected to office. But opponents say its time has passed, and the court's five conservative justices voiced strong doubts about the law's ongoing validity.
  • CNBC's Bartiromo Takes (Barney) Frank to Task Over Lack of ’08 Financial Crisis Prosecutions

    02/16/2013 8:27:39 AM PST · by DogByte6RER · 21 replies
    Washington Free Beacon ^ | February 15, 2013 | Washington Free Beacon Staff
    Bartiromo Takes Frank to Task Over Lack of ’08 Financial Crisis Prosecutions • Frank: 'Individuals' should be prosecuted on Wall Street, will not say who Former Massachusetts Congressman Barney Frank (D., Mass.) advocated criminal prosecutions against “individuals” involved in the 2008 financial crisis and the subsequent collapse on Wall Street Friday on CNBC. Maria Bartiromo reacted incredulously to Frank’s refusal to name specific individuals who may have perpetrated criminal wrongdoing, accusing the former Congressman of playing populist politics by making specious allegations against the financial industry. Frank attempted to deflect the criticism by stating as Chair of House Financial Services...