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FSC Majority | Week in Review

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Full Committee Receives Semi-Annual Testimony on Monetary Policy and the State of the Economy  On Wednesday, the full committee held a hearing to receive the semi-annual testimony from Federal Reserve Chair Janet Yellen on the conduct of monetary policy and the state of the economy.  Members of the committee called attention to the Federal Reserve…

Egregious Ex-Im Bank Deal of the Day

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Ex-Im and the Democratic Republic of the Congo     President Obama and the First Lady pose with Denis Sassou-Nguesso, President of the DRC, and his wife, Mrs. Antoinette Sassou-Nguesso.   The U.S. Statement Department reports the…

Egregious Ex-Im Bank Deal of the Day

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$10.3 Million: Ex-Im Acted “Fast” for Crony-Connected Solyndra   “Ugh.”  That’s exactly how taxpayers feel after losing money not just once but twice on the crony-connected and now-failed solar panel manufacturer Solyndra. Interestingly, both projects for Solyndra were dealt with rather…

ICYMI - Egregious Ex-Im Bank Deal of the Day

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Why Are American Taxpayers Financing an Aquarium in Brazil? A rendering of the Acquario Aquarium in Fortaleza, Brazil (Ex-Im Release) Brazilians still embarrassed by their team’s stunning loss to Germany in the World Cup will soon be able to seek refuge in this “spectacular…

Egregious Ex-Im Bank Deal of the Day

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 e·gre·gious -- outstandingly bad; shocking It pays to have cronies in high places, especially at the Export-Import Bank it seems. The Ex-Im Bank gave millions in taxpayer-backed loans for Spanish green energy company Abengoa International – while former Gov. Bill Richardson (D-NM)…

The Six Biggest Inaccuracies in the July 10 Bloomberg Businessweek Article Regarding the CFPB’s Building Renovations

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Inaccuracy #1: “When the U.S. Consumer Financial Protection Bureau opened in 2011, the best available government office space large enough to accommodate its thousand-plus employees was a run-down concrete building on G Street near the White House that once housed the now-defunct Office of Thrift Supervision.” Facts:  The House Financial Services Committee has investigated whether…

Egregious Ex-Im Bank Deal of the Day

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Americans are increasingly alarmed about Russia’s nationalism and military aggression (just look at this week’s Pew Research poll), but the Export-Import Bank doesn’t seem to care. In fact, Ex-Im’s financing of Russian projects jumped 177% during Fiscal Year 2013 to a record $580 million.  (Ex-Im Bank 2013 Annual Report)   Hardworking Americans taxpayers should…

Egregious Ex-Im Bank Deal of the Day

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Hardworking American taxpayers, who are paying more for gas (“Gasoline prices at six-year high – AAA”) and “more for almost everything this year” (CNBC), might be wondering why President Obama refuses to approve the Keystone Pipeline but is using their tax dollars to finance foreign corporate welfare -- like the nearly $5 billion in direct…

FSC Majority | Week in Review

| Posted in Member Corner

Committee Seeks Accountability and Transparency at the Federal Reserve On Thursday, the Financial Services Committee held a hearing to examine H.R. 5018, the Federal Reserve Accountability and Transparency Act. The proposal is the first piece of legislation to arise from the Committee’s Federal Reserve Centennial Oversight Project. "We do not suggest for a moment that Congress, much…

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