Keyword: doddfrank

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  • Drain the swamp? Dismantling Dodd-Frank is a good place to start

    02/28/2017 1:55:27 PM PST · by davikkm · 6 replies
    washingtontimes ^ | Norbert J. Michel
    Financial regulatory reform is coming. Donald Trump campaigned on a pro-growth regulatory reform message, promising to drain the swamp and dismantle the Dodd-Frank Act. Since entering the Oval Office, the president has reiterated this pledge, stating that his administration would “be cutting a lot out of Dodd-Frank,” and issuing two executive orders to get the process going. Now, House Financial Services Committee Chairman Jeb Hensarling, Texas Republican, is set to unveil a new version of his bill to replace large parts of Dodd-Frank. Still, it remains unclear exactly how this reform process will unfold. Here are three actions that will...
  • Yellen defends Fed independence, banking regulations

    02/15/2017 2:28:26 PM PST · by Olog-hai · 7 replies
    Associated Press ^ | Feb 15, 2017 4:00 PM EST | Martin Crutsinger
    Federal Reserve Chair Janet Yellen defended the central bank’s independence Wednesday from Republican lawmakers who are pushing for major changes in how the central bank operates and how regulators oversee the nation’s banking system. During a hearing that stretched over four hours, GOP lawmakers repeatedly challenged Yellen’s handling of the economy and her leadership in implementing the 2010 Dodd-Frank Act, a measure that President Donald Trump and Republicans have vowed to overhaul. Republicans pointedly told Yellen that she should realize that changes are underway with Republicans in control of the White House and both the House and Senate. “After eight...
  • JUST IN President Donald J Trump signs repeal of Dodd Frank provision

    02/14/2017 12:18:13 PM PST · by sheikdetailfeather · 104 replies
    You Tube ^ | 2-14-2017 | Time News
    JUST IN President Donald J Trump signs repeal of Dodd Frank provision
  • How House Republicans plan to defund Elizabeth Warren’s little agency of tyranny

    02/09/2017 1:48:06 PM PST · by Cheerio · 20 replies
    Canada Free Press ^ | February 9, 2017 | Dan Calabrese
    We told you on Monday about the special challenge Republicans face in what to do about the Consumer Finance Protection Bureau. It’s a totally out of control administrative agency gifted with immense powers by Dodd-Frank, and designed by its architect - Elizabeth Warren - to be almost impossible for a Republican to get a job at. Oh, and Congress is required by statute to fund it. CFPB’s director, left-wing zealot Richard Cordray? The president can fire him only “for cause,” and that’s a lot more complicated than at-will employment. Democrats designed the CFPB this way intentionally during the Obama Administration,...
  • Trump takes on CFPB, a regulatory agency set up by Elizabeth Warren so no Republican could ever work

    02/06/2017 8:55:43 AM PST · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 02/06/17 | Dan Calabrese
    The tyranny of the administrative state. The Consumer Financial Protection Bureau is one of those things that sounds purely like the government helping out the sainted little guy against threats from the powerful and the predatory. And there’s a lot of danger in that. The CFPB was created by Democrats as part of the passage of Dodd-Frank in 2010, and Obama appointed left-wing stalwart Richard Cordray to wield the agency’s considerable power. Now Trump believes, correctly, that it’s time to rein Cordray and the CFPB in, which the political class sees as a case of evil Republicans undercutting the rights...
  • Cutting back Dodd-Frank? Don't count on it, says Mr. Frank

    02/03/2017 7:15:07 PM PST · by Olog-hai · 18 replies
    Associated Press ^ | Feb 3, 2017 6:36 PM EST | Dave Collins
    What’s Barney Frank’s take on President Donald Trump’s first action to scale back the landmark financial overhaul law that bears his name? Don’t bank on it succeeding, he says. […] Any scaling back of Dodd-Frank would have a difficult time getting through Congress, because many Republican lawmakers’ constituents favor policing Wall Street, Frank told The Associated Press in an interview. He spoke Friday after Trump signed an executive order directing the Treasury secretary to review the Dodd-Frank law. Trump has called the law a “disaster,” pledging to dismantle it. …
  • Stock market surges, as Trump puts financial sector in rally gear

    02/03/2017 12:57:38 PM PST · by John W · 12 replies
    Market watch.com ^ | February 3, 2017 | Wallace Witkowski and Ryan Vlastelica
    U.S. stocks rose Friday and traded in the final hour near session highs, led by a sharply higher financial sector as President Donald Trump took steps to roll back industry regulations. A stronger-than-expected January jobs report contributed to the upbeat sentiment. Despite the rise Friday, a negative week may still be in the cards, with pressure on the market linked in part to rising geopolitical uncertainty following reported spats between President Donald Trump and key foreign allies. The Dow is down 0.2% for the week, and the Nasdaq is off less than 0.1%. The S&P is up less than 0.1%...
  • Text of Trump’s order on financial regulation

    02/03/2017 1:50:01 PM PST · by Ernest_at_the_Beach · 19 replies
    Marketwatch ^ | Feb 3, 2017 4:07 p.m. ET
    U.S. President Donald Trump signs an executive order rolling back regulations from the 2010 Dodd-Frank law on Wall Street reform at the White House in Washington, U.S. February 3, 2017. The following is the text of the executive order signed by President Donald Trump, that is meant to be a first step toward limiting the power of the Dodd-Frank bank reform law. “By the power vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Home Economy & Politics Text of Trump’s order on financial regulation...
  • Trump to Order Dodd-Frank Review, Halt Obama Fiduciary Rule

    02/03/2017 8:01:21 AM PST · by ColdOne · 40 replies
    msn.com ^ | 2/3/17 | Justin Sink, Elizabeth Dexheimer and Katherine Chiglinsky/Bloomberg
    link only.... http://www.msn.com/en-us/money/markets/trump-to-halt-obama-fiduciary-rule-order-review-of-dodd-frank/ar-AAmzOmM?OCID=ansmsnnews11
  • Senate advances DeVos education nominee, repeals Dodd-Frank rules

    02/03/2017 6:19:13 AM PST · by GonzoII · 39 replies
    Washington Times ^ | Friday, February 3, 2017 | By David Sherfinski and Stephen Dinan
    President Trump’s out-of-the-box pick to lead the Education Department survived another hurdle, overcoming an attempted Democratic filibuster in a rare pre-dawn vote Friday. A final vote is slated for Monday. Democrats have made Betsy DeVos, the pick, one of their chief targets as they try to score a scalp from among Mr. Trump’s Cabinet nominees, saying the wealthy philanthropist doesn’t have the experience or dedication to public schools to run the federal department. Senate Minority Leader Charles E. Schumer called her “one of the worst nominees that has ever been brought before this body for a Cabinet position.”
  • Trump's team draws target on federal regulations

    12/31/2016 10:45:22 AM PST · by ducttape45 · 14 replies
    The Hill ^ | 12/31/2016 | Tim Devaney
    President-elect Donald Trump is stocking his administration with businessmen and regulatory reformers who are intent on cutting through what they see as red tape from Washington. Carl Icahn, the billionaire investor, will oversee the Trump administration’s regulatory reform efforts. He will be joined by several other Wall Street investors and corporate executives who have first-hand experience dealing with government rules. Here are six figures in the Trump administration poised to have an outsized role in scaling back regulations. Regulatory adviser Carl Icahn Trump created a new position in the White House for the billionaire investor to serve as a “special...
  • Trump Day One To-Do List: Repeal $1.7 Billion Of Dodd-Frank Rules

    12/07/2016 5:47:04 AM PST · by IBD editorial writer · 19 replies
    Investor's Business Daily ^ | 12/6/2016 | Staff
    Regulations: Donald Trump will have a busy first day if he plans to undo much of the damage inflicted on the economy by President Obama. Nevertheless, here's one more item to add to his list: Overturn $1.7 billion in Dodd-Frank rules. The Dodd-Frank financial "reform," passed by Democrats and signed into law by President Obama in 2010, is arguably the most misguided and economically harmful piece of legislation ever imposed on the country (the second, arguably, is ObamaCare). As we've noted in this space before, one of the main reasons the economy has been stuck in neutral for the past...
  • Trump Treasury Choice Steven Mnuchin Vows to ‘Strip Back’ Dodd-Frank

    12/01/2016 8:32:14 AM PST · by GonzoII · 10 replies
    WSJ ^ | Nov. 30, 2016 | Jacob M. Schlesinger
    WASHINGTON—Donald Trump’s choice for Treasury secretary said Wednesday that he would focus on rolling back parts of the landmark 2010 Dodd-Frank financial overhaul law enacted in the wake of the financial crisis. “The number one problem with Dodd-Frank is that it’s way too complicated and cuts back lending,” banker Steven Mnuchin told CNBC in his first public comments since being tapped by the president-elect to head his economic team. “So we want to strip back parts of Dodd-Frank and that will be the number one priority on the regulatory side,” Mr. Mnuchin said, according to a rush transcript of the...
  • Trump Meets With Former Banker Who Wants to End the Fed

    11/29/2016 1:43:58 PM PST · by VitacoreVision · 47 replies
    The New American ^ | 29 November 2016 | Bob Adelmann
    Donald Trump met with former banker John Allison (shown) on Monday in a meeting that was largely ignored by the mainstream media. It remains unclear whether Allison was being interviewed for the job of secretary of the Treasury or was just giving Trump some advice from a free market perspective.Either way, it’s a breath of fresh air in an era where statism and excessive hubris (the idea that mere politicians and economists can guide, even stimulate a $20-trillion-dollar economy with monetary policy) has reigned for decades.Right after graduating Phi Beta Kappa from the University of North Carolina in 1971, Allison joined...
  • 100 percent of Consumer Financial Protection Bureau's donations went to Democrats

    11/25/2016 6:32:03 AM PST · by SoFloFreeper · 7 replies
    The Consumer Financial Protection Bureau is the most partisan agency in the federal government in terms of donations to candidates, according to campaign finance data. Employees at the CFPB, which was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, contributed nearly $50,000 during the 2016 campaign with all of that money going to aid Hillary Clinton or her rival, the insurgent socialist Sen. Bernie Sanders, I-Vt. Agency employees made more than 300 donations during the campaign. Not one went to a Republican candidate. Rep. Sean Duffy, R-Wisc., a frequent critic of the agency, said that it is...
  • End Dodd-Frank? Unlikely, but consumer agency in crosshairs

    11/17/2016 3:11:15 AM PST · by McGruff · 17 replies
    AP ^ | November 17, 2016 | MARCY GORDON
    President-elect Donald Trump pledged in his campaign to throw out what he called stifling regulations, including the stricter financial rules that Congress built to prevent another crisis. Now, as his transition team asserts itself, an all-out repeal of the 2010 Dodd-Frank law — Trump called it a "disaster" and a "disgrace" — seems unlikely. But experts foresee a gradual but potentially significant chipping away of key parts of the law... The transition team's stated goal is a stark one: "To dismantle the Dodd-Frank Act and replace it with new policies to encourage economic growth and job creation."
  • Mary Jo White, Chair of SEC, leaving before Trump takes office

    11/14/2016 4:33:02 PM PST · by blueyon · 49 replies
    WTKR.com ^ | 11/14/16 | CNNWire
    NEW YORK – Mary Jo White announced plans on Monday to step down as chair of the powerful Securities and Exchange Commission before President-elect Donald Trump takes office. White’s term at the helm of the SEC hadn’t been scheduled to expire until June 2019. Trump has promised to roll back the sweeping regulation of Wall Street that White has spent nearly four years trying to install. In fact, implementing Dodd-Frank rules and other financial reforms had been one of the biggest challenges during White’s tenure at the SEC.
  • GOP Whiffs On Bank Reform, Big Time

    07/22/2016 4:07:28 AM PDT · by expat_panama · 70 replies
    Investors Business Daily ^ | July 21, 2016 | Editorial
    Financial Crisis: The Republican platform put forward in Cleveland is a lively and conservative document, full of great ideas to make America great again. But one thing stands out as a truly bad idea: reviving the partly-repealed Glass-Steagall Act. "We support reinstating the Glass-Steagall Act, which prohibits commercial banks from engaging in high risk activities," says the platform document. What? It was one of the Democrats' big talking points during the 2007-2008 financial crisis and after that a major cause of the panic was due to Bill Clinton in 1999 foolishly going along with the Republicans to get rid of...
  • Dodd-Frank and the Durbin Amendment Could Finally Go Down in Flames

    09/13/2016 3:30:18 PM PDT · by Kaslin · 9 replies
    Townhall.com ^ | September 13, 2016 | Steve Sherman
    Dodd-Frank has been a behemoth of costly red-tape and an elephant sitting atop American business since is passing. Could that finally be coming to an end?An opportunity to lighten the load could be voted on in the House Financial Services Committee as early as this week. Rep. Jeb Hensarling (R-TX) has been working to undo Dodd-Frank and that moment is finally here. The Hensarling sponsored bill is called The Financial Choice Act. Listen to Rep. Hensarling himself describe what it does in his own words:The Financial CHOICE Act: Growth for All, Bailouts for None Americans and Conservatives have been starving...
  • GOP Lawmakers Blindsided by Trump's Embrace of Glass-Steagall

    07/20/2016 8:48:11 AM PDT · by b4its2late · 56 replies
    American Banker ^ | July 19, 2016 | By Ian McKendry
    WASHINGTON — The eleventh-hour move by the Donald Trump campaign to add a plan to reinstate the Glass-Steagall Act to the Republican platform caught GOP lawmakers off guard, with some of them expressing disappointment with the decision. While the 1930s-era law, which separated commercial and investment banking activities, is strongly supported by progressive Democrats, it is not popular among most Republican policymakers. "I was completely surprised," Rep. Steve Stivers, R-Ohio, a member of the House Financial Services Committee, said in an interview here hours before Trump's formal nomination Tuesday evening. "It was a late addition. I am not sure how...
  • Sen. D’Amato Drops Bomb: Hillary Allowed Russia to Take Ownership of US Uranium to Sell to Iran

    07/05/2016 3:28:29 AM PDT · by Enlightened1 · 84 replies
    Gateway Pundit ^ | 07/03/016 | Jim Hoft
    Former Senator Al D’Amato (R-NY) dropped a bomb on Sunday Morning Futures this AM. D’Amato told Maria Bartiromo that Hillary allowed Russia to take ownership of US uranium so they could sell it to Iran. Hillary made it possible for the Russians to take control of one of our huge uranium producers and allow them to own the company, export the uranium and who do they sell the uranium to? Iran! Now if people knew that and that the foundation as a result of that got $135 million. I think people would start saying, “What?” Former Senator Al D’Amato (R-NY)...
  • Ex-Clinton official got Boeing bucks while pushing Iran nuke pact – before $25B jet deal

    06/23/2016 2:48:28 PM PDT · by ColdOne · 17 replies
    foxnews.com ^ | 6/23/16 | Adam Shaw/AP
    A former top Clinton administration diplomat who used his political sway to garner support for the Iran nuclear deal apparently was being bankrolled the entire time by Boeing -- which is set to make billions off a jet deal with Tehran now that sanctions have been lifted. ADVERTISEMENT Thomas Pickering, who also served as co-chairman of the board examining the Benghazi attack response, publicly pushed for the nuclear deal before its approval last year. He did so by penning op-eds, writing to high-level officials and even testifying before Congress. With the deal in place, Boeing has since moved forward on...
  • Garrett: Boeing deal with Iran proves crony capitalism is alive and well (Press Release)

    06/23/2016 1:31:36 PM PDT · by FreedomNotSafety · 7 replies
    House.Gov ^ | Scott Garrett
    WASHINGTON, D.C. – Rep. Scott Garrett (NJ-05) released the following statement in response to reports that Boeing has reached a multibillion-dollar deal to sell commercial passenger planes to Iran. Boeing is one of the largest beneficiaries of the Export-Import (Ex-Im) bank which perpetuates corporate welfare to mega corporations by handing out taxpayer-backed loans. "This agreement between Boeing and the world's largest state sponsor of terrorism is extremely troubling and shows that crony capitalism remains alive and well in Washington. Not only has Boeing lobbied for years to keep the taxpayer-backed Export Import bank alive, it now has also used its...
  • Nation's largest banks all pass Fed's 'stress tests'

    06/23/2016 10:48:30 PM PDT · by Olog-hai · 7 replies
    Associated Press ^ | Jun 23, 2016 5:36 PM EDT | Ken Sweet
    The largest U.S. financial institutions have enough armor to withstand the turmoil of a major and prolonged national and global recession, the Federal Reserve said Thursday. The central bank’s annual “stress tests” show that the 33 largest financial institutions — including JPMorgan Chase, Citigroup, Bank of America and Wells Fargo — all hold more capital than at any time since the 2008 financial crisis. They also hold enough capital that, even if faced with billions of dollars in losses from loans as a result of an economic crisis, they would continue to function. The stress tests were created in the...
  • Stick a Fork in Warren, She’s Done

    06/09/2016 12:28:56 PM PDT · by Fractal Trader · 42 replies
    Lifezette ^ | 9 June 2016 | Edmund Kozak
    Elizabeth “Fauxcahontas” Warren is constantly mentioned as a top choice for Hillary Clinton’s ticket as vice president, but few have bothered to examine whether she would be a disastrous for an already troubled candidate. A Clinton-Warren ticket could actually make winning over the Democratic far-left harder for Clinton. Some argue that Warren, a popular progressive, could boost Clinton’s appeal to former supporters of Bernie Sanders, but a closer examination suggests a Clinton-Warren ticket could actually make winning over the Democratic far-left much harder for Clinton. [SNIP] Moreover, many Sanders supporters are angry at Warren for not endorsing him — shocked...
  • The GOP Plan to End Wall Street Bailouts

    06/07/2016 6:23:56 AM PDT · by milton23 · 9 replies
    The Daily Signal ^ | 6/7/2016 | Philip Wegmann
    House Republicans are priming the pump for the next president to overhaul much of the financial regulation enacted in the aftermath of the 2008 global market downturn. The GOP plan would repeal and replace most of the Dodd-Frank financial overhaul with a more market-based regulatory scheme. As part of the GOP’s “A Better Way Agenda,” House Financial Services Chairman Jeb Hensarling, R-Texas, was scheduled to unveil details of the simpler, yet stricter, regulation Tuesday morning at the Economic Club of New York. “In a phrase,” he said, summarizing the Republican plan in prepared remarks obtained by The Daily Signal, “we...
  • Are the Clintons the Real Housing Crash Villains?

    05/29/2016 7:41:31 AM PDT · by Kaslin · 44 replies
    Townhall.com ^ | May 29, 2016 | Larry Kudlow
    Editor's note: This column was co-authored by Stephen Moore. We are going to reveal the grand secret to getting rich by investing. It's a simple formula that has worked for Warren Buffett, Carl Icahn and all the greatest investment gurus over the years. Ready? Buy low, sell high. It turns out that Donald Trump has been very, very good at buying low and selling high, and it helps account for his amazing business success. But now Hillary Clinton seems to think it's a crime. Campaigning in California last week she wailed that Trump “actually said he was hoping for the...
  • Big win for Bank of America as court overturns $1.3 billion penalty in 'Hustle' fraud case

    05/23/2016 10:23:58 AM PDT · by DUMBGRUNT · 4 replies
    biz journals ^ | 23 May 2016 | Jen Wilson
    Bank of America Corp. (NYSE: BAC) on Monday notched a major legal win when a U.S. appeals court overturned a $1.27 billion penalty handed down in a high-profile fraud case tied to mortgages sold by its Countrywide unit prior to the financial crisis of 2008.
  • Treasury Must Not Forget That With Lending, Ignorance Isn't Bliss

    05/23/2016 4:32:18 AM PDT · by expat_panama · 4 replies
    Real Clear Markets ^ | May 23, 2016 | Brian Knight
    The use of technology to better assess a potential borrower's risk profile and score borrowers who previously could not be scored-or were scored inaccurately-is one of the most exciting elements of marketplace lending. That is, of course, unless you are the U.S. Treasury Department, which according to its recently released report on marketplace lending worries that technology will make loan underwriting too good. That isn't a typo; the Treasury is worried that better underwriting may be "unfair" because it can disadvantage borrowers who are currently mischaracterized as low risk by making them pay higher (that is to say, correct) rates....
  • Repeal Dodd-Frank!

    05/11/2016 4:53:59 AM PDT · by expat_panama · 40 replies
    Investors Business Daily ^ | May 6, 2016 | Editorial
    Financial Meltdown: Thanks to the media, many Americans believe that the financial crisis was a result of banking deregulation. A new study delivers a thorough debunking of that idea. A group of respected think tanks — the Heritage Foundation, the American Enterprise Institute, the Cato Institute and the Mercatus Center — has issued a 208-page book titled “The Case Against Dodd-Frank: How The ‘Consumer Protection’ Law Endangers Americans.” It’s a devastating indictment of the law. The book crushes the conventional media and liberal political narrative that deregulation was at the heart of the crisis... ...the crisis “was principally the result...
  • Trump: I’ll reduce the national debt by getting creditors to accept less

    05/06/2016 1:00:04 PM PDT · by SeekAndFind · 72 replies
    Hotair ^ | 05/06/2016 | AllahPundit
    <p>Reminds me of something Mike Murphy said about Trump in the aftermath of Jeb’s collapse. The logic in favor of nominating another Bush was always, er, complicated, but the logic against nominating a loose cannon is straightforward.</p> <p>I’ll bet even Murphy didn’t think Trump would advertise the possibility that America’s creditors might not receive payment in full in a Trump administration. Choose your own preferred term for what he’s recommending here — renegotiation, bankruptcy, default.</p>
  • Rep. Stephen Lynch (D-MA) pushing Hollywood Fiction for More Banking Regulations

    05/05/2016 8:25:41 AM PDT · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 05/05/16 | Megan Barth
    The Big Short: As The Big Short is short on reality, Big Government is short on accountability If it moves, tax it. If it keeps moving, regulate it. If it stops moving, subsidize it.—Ronald Reagan Enter Dodd Frank: legislation named after Democrats’ Christopher Dodd and Barney Frank, which enacted 2,300 pages of banking regulations. What could have possibly gone wrong with 2,300 pages of new government regulations on banks? This:
  • What Did Fed Chairman Yellen Tell Obama?

    04/19/2016 11:48:41 AM PDT · by Kaslin · 25 replies
    Townhall.com ^ | April 19, 2016 | Ron Paul
    Last week, President Obama and Vice President Biden held a hastily arranged secret meeting with Federal Reserve Chairman Janet Yellen. According to the one paragraph statement released by the White House following the meeting, Yellen, Obama, and Biden simply "exchanged notes" about the economy and the progress of financial reform. Because the meeting was held behind closed doors, the American people have no way of knowing what else the three might have discussed. Yellen's secret meeting at the White House followed an emergency secret Federal Reserve Board meeting. The Fed then held another secret meeting to discuss bank reform. These...
  • Elizabeth Warren’s Cherokee Problem is back

    03/20/2016 3:30:47 PM PDT · by kevcol · 86 replies
    Legal Insurrection ^ | March 20, 2016 | William A. Jacobson
    Say what you want about Donald Trump, but he has an instinctive knack for zeroing in on an opponent's inherent weakness. With Jeb, it was "low energy." That term exploited a key perception problem of Jeb, and one he couldn't shake. So to did "Little Marco," which may have ended not only Marco Rubio's presidential campaign, but his political career . . . More heavyweights are jumping in to stomp Trump, including Elizabeth Warren. Asked about her jabs, he pounced: "I think it's wonderful because the Indians can now partake in the future of the country. She's got about as...
  • Fed proposes rules to boost stability of financial system

    03/04/2016 2:33:51 PM PST · by Olog-hai · 13 replies
    Associated Press ^ | Mar. 4, 2016 5:26 PM EST | Martin Crutsinger
    The Federal Reserve has put forward new rules aimed at addressing one of the primary causes of the 2008 financial crisis -- the financial exposures that the biggest banks had with each other. The Fed is proposing new limits on that exposure. It hopes the new rules will prevent the type of crisis that engulfed the U.S. financial system in September 2008 when the collapse of Lehman Brothers raised fears about the stability of other banks that had made loans to Lehman. [...] The rules would implement a portion of the Dodd-Frank Act passed by Congress in 2010 in response...
  • Why So Many Historians Agree With Ted Cruz On Gold

    02/09/2016 11:40:04 AM PST · by GodGunsGuts · 82 replies
    Forbes ^ | February 9, 2016 | Nathan Lewis
    Echoing the recent sentiments of Steve Forbes, this week Republican presidential contender Ted Cruz told a group in New Hampshire: "Money is ... a unit of measurement. So, the reason why we see these rapid oscillations in commodities markets, it's because of unstable currencies. And it's why I think we should look at going toward rules-based money supply, ideally tied to gold, so you have stability." Perhaps this will trigger another flood of disagreement in the mainstream press, such as the recent New York Times item which reported that 40 out of 40 "leading economists" said that a gold standard...
  • Hold on Ex-Im nomination keeps cronyism crimped

    02/09/2016 4:29:56 AM PST · by Cincinatus' Wife · 1 replies
    The Hill ^ | February 9, 2015 | Diane Katz
    The president has nominated attorney J. Mark McWatters for the bank board. However, Sen. Richard Shelby (R-Ala.), chairman of the Committee on Banking, Housing and Urban Affairs, has said he's "in no hurry" to hold a hearing or a vote on the nomination. Other pending confirmations take precedence, he said.The last of the 2015 lobbying reports are in, and the top corporate spender turns out to have been the Boeing Company, at $21.9 million. Not coincidentally, the aerospace giant also outranks thousands of other firms in profiting from the subsidies doled out by the Export-Import Bank. Last year, Boeing benefitted...
  • Sessions: 'Little surprise' Obama quietly signed the TPP

    02/04/2016 11:40:26 PM PST · by Ray76 · 100 replies
    Washington Examiner ^ | Feb 4, 2016 | Anna Giaritelli
    Sen. Jeff Sessions, R-Ala., charged the Obama administration with quietly signing the Trans-Pacific Partnership trade agreement in New Zealand, and said the White House tried to minimize it because it knows the public isn't pleased with the deal.
  • Tipton asks board to consider small banks ( Colorado Congressman )

    02/03/2016 2:36:03 PM PST · by george76 · 2 replies
    Grand Junction Media ^ | February 2, 2016 | Gary Harmon
    A coming change in accounting standards could do irreversible damage to community banks, U.S. Rep. Scott Tipton, R-Colo., said in a letter to the Financial Accounting Standards Board. An accounting-standards update due to be issued by the board would change the way all lenders set aside reserve funds in anticipation of possible losses. The board, wrote Tipton and Rep. Patrick Murphy, D-Fla., should take "utmost caution" in proceeding because it has the potential to "irreversibly damage community banks' and credit unions' ability to continue to adequately serve their customers/members and communities and sustain the economic recovery." ... Tipton, a member...
  • Shadowy federal bureau probably has your credit card information

    01/17/2016 11:53:37 AM PST · by george76 · 11 replies
    Watchdog ^ | January 15, 2016 | M.D. Kittle
    The Consumer Financial Protection Bureau remains "the most out-of-control, unaccountable, and nontransparent agency in the federal government... And we can say that without reservation because this is one of the only agencies that literally operates outside of congressional oversight," added Wise, whose Virgina-based organization "works to protect consumers' right to access free-market goods and services." The CFPB, created under the 2010 Dodd-Frank Act, is funded largely by fees banks pay to the Federal Reserve. While its director, Richard Cordray, has bragged that his bureau has levied more than $141 million in fines used for CFPB education programs or reparation to...
  • Letter from Elizabeth Warren

    01/11/2016 9:58:51 AM PST · by pabianice · 10 replies
    Sen. Elizabeth Warren ^ | 1/11/16 | Warren
    ----------Original Message---------- From: "Elizabeth Warren" Date: Jan 11, 2016 Subject: Thank you for contacting me To: Dear Pabianice, Thank you for contacting me about the Stop Sanctuary Policies and Protect Americans Act. On October 20, 2015, the Senate voted to reject consideration of the Sanctuary Policies and Protect Americans Act.Ă‚ I voted against the bill because I share many of the concerns of the law enforcement organizations, faith communities, labor groups, and human rights and domestic violence prevention organizations who oppose it. This bill would do nothing to fix our broken immigration system.Ă‚ Instead, it would demonize immigrants, create new...
  • STATEMENT FROM TED CRUZ –> SENATE PASSES OMNIBUS SPENDING BILL

    12/18/2015 9:20:51 AM PST · by gwgn02 · 31 replies
    TheRightScoop ^ | 12/18/15 | RightScoop
    A strong statement from Sen. Cruz who voted against the bill: What we’ve seen in Congress today is profoundly disappointing. This spending bill does not honor the promises we made to the men and women who elected us. It funds Obamacare. It funds Planned Parenthood. It funds executive amnesty. It fails to protect our national security and stop Syrian refugees from coming to this country. It fails to do anything to stop the Iranian Nuclear Deal. And what does it do? It jacks up yet more low-skilled immigration, which will only drag down wages, kill American jobs, and hurt working...
  • Cruz, Sessions Target "Guest Worker Program" H1-B Visas "American Jobs First Act"

    12/13/2015 9:58:02 AM PST · by conservativejoy · 28 replies
    WND ^ | 12/11/2015 | Leo Hohmann
    Sens. Ted Cruz and Jeff Sessions introduced a bill Friday in the Senate that would rein in the H1B “guest worker” program that has allowed Disney and other major corporations to replace their American tech workers with foreign "guest workers." The American Jobs First Act of 2015 (S. 2394) would reform the H-1B visa program to stop abuse of the legal immigration system and ensure American workers are better served, Sessions said. Sessions, R-Ala., notes, this bill is the "exact opposite in every way of the wage-crushing I-squared bill." I-squared, championed by the billionaire tech lobby, is designed to make...
  • OUR OPINION: Trump? Worry more about his supporters

    12/12/2015 8:40:08 AM PST · by Capt. Tom · 64 replies
    The Pariot Ledger (Quincy Mass.) ^ | Dc. 12, 2015 | editorial
    Posted Dec. 12, 2015 As profoundly disturbing as Donald Trump is, we are far and away more troubled by the legion of those who support him. We've seen their posts to Facebook and their Tweets. We've received their email chains and heard their defense of Donald Trump’s horrifying lies, racist, sexist, and culturally and religiously intolerant claims at social gatherings. Enough. ...snip We understand from a Washington Post/ABC News poll that the majority of Trump's Republican supporters are white, less educated and working class. It’s easy to see a correlation between this poll and a report released last month by...
  • America’s Middle Class: Disappearing Down Obama’s Rabbit Hole

    12/10/2015 7:03:14 AM PST · by NOBO2012 · 12 replies
    Michelle Obama's Mirror ^ | 12-10-2015 | MOTUS
    Here’s an interesting factoid: as the rich get richer and the poor get poorer the middle class is simply going “pouf.” That’s right, the middle class is disappearing down the rabbit hole that is Obama’s Amerika. The nation's middle class, long a pillar of the U.S. economy and foundation of the American dream, has shrunk to the point where it no longer constitutes the majority of the adult population, according to a new major study. LA Times Well how did that happen? Let’s see; First you begin by passing new rules and regulations (e.g. ObamaKare and the Dodd-Frank Wall Street...
  • Marco Rubio Rumors Ramp Up

    12/05/2015 4:15:27 PM PST · by conservativejoy · 86 replies
    Fits News ^ | 12/4/2015 | Fits
    MSM CHASING THE "MISTRESS BOMB "BUT IS THERE MORE THAN ONE? Numerous national media outlets are pursuing multiple allegations of infidelity involving U.S. Senator Marco Rubio of Florida , all in the aftermath of the "mistress bomb" report we published earlier this week. Specifically, three mainstream media outlets have independently supplied us with the names of two additional women said to be romantically linked to the GOP establishment's candidate of choice. These names are in addition to the woman we referenced earlier this week , a lobbyist whose alleged proximity to Rubio was discovered during a deep dive into the...
  • Sen. Cruz: This Highway Bill Is Irresponsible (with Ex-Im Bank)

    12/05/2015 11:57:25 AM PST · by Isara · 5 replies
    Cruz.Senate.gov ^ | December 4, 2015
    Ex-Im Bank board still lacks a quorum to approve multimillion dollar, taxpayer-backed loan guarantees for big business WASHINGTON, D.C. — U.S. Sen. Ted Cruz (R-Texas) yesterday voted against the $281 billion, five-year highway bill that reauthorizes the Export-Import Bank, a quintessential example of cronyism and corporate welfare. Using various budget gimmicks and one-time revenue raisers, this bill guarantees an even larger shortfall in 2020 when the next highway bill comes up. Sen. Cruz issued the following statement upon the bill’s passage in the Senate:“Last night, sadly, the Washington Cartel reversed one of the few fiscal conservative victories achieved with this...
  • U.S. House approves highway bill that revives EXIM bank (conservatives screwed again)

    12/03/2015 1:55:17 PM PST · by fifedom · 46 replies
    Reuters ^ | 12/3/2015 | David Morgan
    The U.S. House on Thursday passed a five-year transportation bill that also revive(s) the charter of the U.S. Export-Import Bank, which had been allowed to expire in the face of conservative opposition. the House of Representatives voted 359 to 65. All 65 "no" votes came from Republicans, including lawmakers opposed to the EXIM bank measure. "It proves to the American people that we can get things done," said House Transportation Committee Chairman Bill Shuster, a Pennsylvania Republican.
  • CFPB: Big Banks and Government v. The Little Guy

    12/02/2015 12:40:26 PM PST · by Kaslin · 3 replies
    Townhall.com ^ | December 2, 2015 | Brian McNicoll
    I have a friend in Texas who believes everything you see on the news is made up. The 9/11 attacks? A media creation. Newtown? Secret footage exposes the fraud.  The recent Paris attacks? A false flag operation to get us all scared.Part of me thinks my friend is a little wacky, but part of me thinks he has a point. It does seem a lot of what the government treats as a crisis is a crisis only for those who stand to profit from it.  Take the 2008 financial "crisis." After the $800 billion TARP bailout, what truly needed to...
  • Paul Ryan: New House Speaker, Same Old GOP Favors for Wall Street

    11/08/2015 8:53:30 AM PST · by Lorianne · 6 replies
    Fiscal Times ^ | 06 November 2015 | David Dayen
    It seems bizarre that financial policy would get decided in a bill to repair roads and bridges and mass transit, but that’s the whole point of the Christmas tree strategy: If a bill is deemed “must pass,” then adding ornaments to it comprises a good strategy for getting things into law that otherwise might not receive a vote. Ryan touted this process as a positive example of new leadership. In recent years, House bills written in secret sped to the floor without the ability for alterations. But on the highway bill, over 80 amendments got a vote on the House...