(Reuters) - The new U.S. financial risk council should publicly share more details about its closed-door meetings on emerging risks to markets, a congressional watchdog report has found.
The Government Accountability Office said the Financial Stability Oversight Council, a group made up of the top U.S. regulators, fails to provide insight, even on information that is not… Read more »
More evidence of the unintended consequences of the Dodd-Frank Act:
“With passage of the Dodd-Frank law, the banking and financial services industries face uncertainty that has locked credit markets and access to capital. Many companies have viable, low-risk projects or contracts that simply need funding in order to begin work. However, overregulation in the banking sector has made… Read more »
The following editorial appeared in the Aug. 22, 2012 edition of the Charleston Daily Mail:
Wall Street regulation is felt on Main Street
In the aftermath of the 2008 financial meltdown, Democrats were in control of both houses of Congress. They passed another law to rein in the banking industry, already highly regulated.
The Dodd-Frank law did not simply rein in the big banks… Read more »
The following column appeared in the Wall Street Journal on August 17, 2012:
The Dodd-Frank Threat to U.S. Energy
Intrusive new disclosure rules by the SEC would give state-owned oil firms a big advantage in world markets.
By Jack Gerard
In a fragile recovery with 8.3% unemployment, you'd think Congress and government regulators would be concerned about rules that put American… Read more »
Rep. Shelley Moore Capito (R-W.Va.) chaired a House Financial Services subcommittee hearing Monday on how new regulations are affecting financial institutions, particularly those in her home state.
The Financial Institutions and Consumer Credit panel held the field hearing in Charleston, W.Va., courthouse.
“If we’re going to get our economy moving again, small businesses must have… Read more »
The Idaho Statesman: Idaho Businesses Say They're Jittery Over Economic Climate
August 13, 2012
By Bill Roberts
Uncertainty over taxes, national debt, growing government regulation and health care reform is hurting business expansion and job creation in Idaho, some Southwest Idaho business owners and regional business leaders told U.S. Sen. Mike Crapo on Monday.
"We… Read more »
By SPENCER BACHUS
Bernie Madoff. Matthew Hutcheson. Mark Spangler. If these names don't ring a bell, you are lucky. Reports indicate that thousands of investors lost billions in savings—in some cases an entire lifetime's worth—investing with these financial planners, investment advisers or "retirement coaches" who were accused of breaking the law and taking their money.
The federal… Read more »
By Chairman Spencer Bachus
CNBC
Supporters of the Dodd-Frank Act boldly promised that by increasing government control over the economy to an unprecedented degree, they would end "too big to fail" and thus save taxpayers from future AIG-style bailouts.
But as we approach the second anniversary of Dodd-Frank and the fourth anniversary of the bailouts of AIG, Fannie Mae and Freddie… Read more »
Rep. Jeb Hensarling (R-TX)
Washington Times
The news of J.P. Morgan Chase's recent trading loss has raised the cry of "I told you so" from proponents of the almost 2-year-old Dodd-Frank Act. They say the law's Volcker rule would have prevented such a loss and that without more regulation, financial institutions will continue to make poor investment decisions.
As an opponent of… Read more »
By REP. SCOTT GARRETT
Investor's Business Daily
Posted 05/14/2012 06:14 PM ET
Are you fed up with our lackluster recovery and stubbornly high unemployment? Do you wonder why, three years after we officially pulled out of the Great Recession, we still haven't hit our economic stride? Look no further than the current occupant of 1600 Pennsylvania Avenue.
The reason… Read more »
