US Action News

The sheer complexity of the 2,319-page Dodd-Frank financial reform bill is certainly a threat to future economic growth. The bill all but guarantees bailouts as far as the eye can see, while failing to address real problems like Fan and Fred and our outdated bankruptcy code.

Michele Bachmann explains how the ‘reform’ bill does nothing to get at the root causes of the financial crisis and still uses borrowed taxpayer money to fund it. The bill makes government bailouts permanent.

The “too big to fail” concept is not the reason for the economic crisis. The problem is not Wall Street as a whole, but the hedge fund short sellers on Wall Street. They call themselves the “alternative investment community” and have organized themselves into a special interest group called the Managed Funds Association (MFA).

New criminal inquiry follows civil fraud charges filed by the government against Goldman two weeks ago and as Congress pushes toward enacting sweeping legislation.

A raw deal for Republicans on financial regulatory reform

Jim Angle at FOX reports on the bailout bill

On Saturday, Goldman released a series of e-mails from Mr Tourre, in one of which he jokes that he has sold doomed investments to widows and orphans.

Michele Bachmann stands up against Geraldo’s leftist support of bailout bill

“All of us want to deliver a reform that will tighten the screws on Wall Street. But we’re not going to be rushed on another massive bill,” Senate Republican Leader Mitch McConnell said ahead of the vote.

When you see public employees and the refugees from ACORN out in the street this week decrying Wall Street greed, remember that they are not fighting to take power away from big banks, but to instead control that power themselves. Tucked into the 1,250 pages of new rules proposed by Sen. Chris Dodd, D-Conn., is a provision that gives new powers to board members. And that could mean big payoffs for the unions down the road.