US Action News

Dodd-Frank will cause a 26 percent increase in financial regulatory restrictions.

We are rapidly becoming a “Big Brother society” where the government tracks virtually every move that we make.

“consumers will experience tight credit, higher fees, and fewer service innovations. Job creation will suffer.” … “financial firms of all sizes are shelling out hundreds of millions of dollars for regulatory compliance officers and attorneys rather than making loans for new homes and businesses.”

Contributions from the financial sector account for roughly 30 percent of all money collected by the campaign committee and leadership PAC of Senate Banking Committee Chairman Chris Dodd. But that is just not enough. His wife, Ms. Jackie Clegg, has a $153,000 salary on the board of CME which just got access to Federal Reserve funds from the Dodd bill. How convenient.

Hammered by European bonds, Obama’s anti-bank rhetoric, occupiers and Democrats massive new regulations in the Dodd-Frank bill banks are struggling and ratings agencies have downgrade many.

[T]he U.S. government’s housing policies were the major contributor to the financial crisis of 2008. These policies fostered the development of a massive housing bubble between 1997 and 2007 and the creation of 27 million subprime and Alt-A loans, many of which were ready to default as soon as the housing bubble began to deflate.

Their excuse must be that they had to pass the bill to find out what’s in it? Or was it that no one read it? Giving vast dictatorial powers to unelected bureaucrats is never a good idea either way.

Let’s get it back. Twelve billion, one hundred and sixteen point four million dollars might not sound like a lot to you, but it starts to add up.

Judicial Watch, the public interest group that investigates and prosecutes government corruption, today released its 2010 list of Washington’s “Ten Most Wanted Corrupt Politicians.”

Citizen bounty hunting is a disturbing turn in the crush of big government under the Obama Democrats.