By Rep. Spencer Bachus
Politico
The Dodd-Frank Act has been described by supporters and opponents alike as the most sweeping reform of the financial services industry since the Great Depression. It can also be described as a story of the “good, the bad and the ugly.”
A few of its provisions represent useful reforms to a financial system that came close to the brink of collapse in… Read more »
Mortgage guarantees made by Fannie Mae and Freddie Mac in the coming decade are expected to cost the government another $42 billion, the Congressional Budget Office said Thursday.
The mortgage giants were seized by regulators and placed into a federal conservatorship in September 2008 as housing prices tumbled nationwide and foreclosures climbed.
Through the end of March, the government… Read more »
By Rep. Blaine Luetkemeyer
Roll Call
June 2, 2011
Our country still has a long way to go to get our nation’s fiscal house in order, but the new tone of the debate is a step in the right direction.
The economic woes of the United States will not be solved in one budget alone. Our fiscal mess took years of uncontrollable spending by both parties, and as a nation we must make… Read more »
By: Rep. Spencer Bachus
May 27, 2011
Because the Dodd-Frank Act places so much authority — with so little accountability — in the hands of the director of the new Consumer Financial Protection Bureau, the law requires that this administrator be nominated by the… Read more »
The Obama administration's approval of $34.4 million for six top officials, with little or no market guidance, is raising new questions about the inner workings of the failing mortgage giants. John Solomon and Julie Vorman, of the Center for Public Integrity's iWatch News, report. Read more »
US futures regulators warned of splits in derivatives rules between the US and Europe and told lawmakers that budgetary restraints would leave them unable to enforce new laws. Read the story here: http://www.ft.com/intl/cms/s/0/4dea6cdc-8701-11e0-92df-00144feabdc0.html?ftcamp=rss#axzz1NTBvW0Kz
Read more »
Obama Anti-Foreclosure Efforts Still Falling Short
Wall Street Journal
By: Alan Zibel
May 6, 2011
The Obama administration’s efforts to tackle the foreclosure crisis have long been troubled, and data released Friday show that, despite some modest successes, they are still failing to meet expectations.
The administration’s signature initiative, known as the Home Affordable… Read more »
What is 20 times taller than the Statue of Liberty, 15 times longer than "Moby Dick" and would take the average reader more than a month to read, even if you hunkered down with it for 40 hours a week?
The answer: The growing paper trail formed by the Dodd-Frank law, passed by Congress last year to give U.S. financial regulations their biggest overhaul since the Great Depression.… Read more »
Letters to the Editor
Putting the Spike in Fannie and Fred
6 April 2011
The Wall Street Journal
Regarding your editorial "Blinking on Fannie and Fred" (March 31): The need to end the taxpayer-funded bailout of Fannie Mae and Freddie Mac is an urgent matter. That's why, on March 17, we introduced H.R. 1182, which completely removes Fannie and Freddie from the permanent… Read more »
WASHINGTON: Financial Services Committee Member Rep. Carolyn Maloney spoke out today against a proposal that places the new Consumer Financial Protection Bureau under the leadership of a bipartisan commission. At a subcommittee hearing Wednesday morning, Rep. Maloney named the Federal Reserve, the Commodity Futures Trading Commission, and the Office of the Comptroller of the… Read more »
