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.

There is one word being mentioned by business leaders and economists more frequently when the conversation turns to why jobs are not returning more quickly to the U.S. economy: UNCERTAINTY.

This financial bill is a nightmare. ‘There is going to be a tremendous loss of freedom.’ Call your legislator NOW! 202-224-3121

It appears that the age of soft tyranny has ended, so be ready for more taxpayer-funded bailouts due to government-designed economic bubbles, based on unsound economic policy, and justified through social justice — all of which will be followed by major economic collapses.

As we’ve been warning here for weeks, this supposed ‘reform’ bill is a socialist nightmare. The bill allows seizure of business without judicial review and allows the government to look at all transactions even private ones. The Treasury department will have authority to bailout, seize or guarantee debt without judicial or congressional oversight. Call your lawmaker and tell them to say no to this dangerous bill.

Senate passes financial regulation bill giving the federal government vast new powers. Republicans slammed the bill for doing nothing to fix the problem of Fannie Mae and Freddie Mac, the two government-owned failed mortgage giants who have cost taxpayers $145 billion and are poised to hemorrhage hundreds of billions more over the next few years.

Pataki: Washington is blindly spending, blindly over regulating

The Massachusetts Republican, who had voted against ending debate on Wednesday, met with Reid Thursday morning to voice his concerns regarding the bill’s effect on Massachusetts banks such as State Street and insurance firms such as MassMutual. House Financial Services Committee chairman Barney Frank, also of Massachusetts, weighed in Thursday with letters to Reid offering his own guarantees that the final bill would resolve Brown’s concerns.

To put it bluntly but absolutely accurately, this bill sets up a mechanism for the Treasury Secretary, the Federal Reserve, and the Federal Deposit Insurance Corporation to nationalize virtually any business they deem to be a threat to American “financial stability.”