US Action News

Dodd-Frank appears to require almost a dozen different federal agencies to complete between 240 to 540 new sets of rules, along with approximately 145 studies that will very likely affect rule making.

Republicans ought to go through Frank’s monstrosity, page by page, and strip out all its jobs-killing and capital-killing provisions — along with the new race-based mandates Democrat Rep. Maxine Waters stuck in. Such politically mandated lending is what got us into this mess in the first place.

Bono announced how happy he was with oil revenue transparency provision which makes oil and mining companies disclose any government payments to the SEC.

Crowley left during the Dec. 10 debate over amendments to the legislation in order to attend his holiday fundraiser at financial industry lobbyist Julie Domenick’s home, which is also her office. He then came back and voted against amendments that would have strengthened the bill, the New York Times reported.?

“There will be no more taxpayer-funded bailouts. Period.” – Obama. How long did this Obama promise last? Less than a month.

SEC suddenly becomes no longer subject to the Freedom of Information Act, Advisory Committees are made NOT subject to the Federal Advisory Committee Act, global regulation and ‘fees’ are authorized in the bill, racial quotas and race ‘advisory’ agencies are required in the bill, privacy of financial transactions is eliminated – what’s not to like?

Big Brother is here in the form of the new bill just signed by Obama. This bill gives unelected bureaucrats vast new powers, ends your right to privacy, makes bailouts permanent, rewards the contributors to the housing collapse and does nothing to correct the root causes of the financial crisis. And they are proud of it.

Rather than wait for Congress’s own Financial Crisis Inquiry Commission to issue its report in December to examine the role of the GSEs and other causes, Congress passed a bill that will not prevent future bubbles and imposes untold costs that will put the country in danger of slipping back into a recession.

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 has a $153,000 salary on the board of CME which just got access to Federal Reserve funds from the Dodd bill. How convenient.

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 (D-Conn.), the bill’s chief sponsor in the Senate, the Center found — the most among all senators. Dodd’s home state of Connecticut is also home to many financial industry companies and workers.