News List

The crushing burden of more and more regulations from Washington (400 new rule-makings due to the Dodd-Frank Act alone) has led one columnist to conclude that if the United States enters another depression, “the likely reason will be new financial rules.” If through ineptitude and inattention the federal… Read more »

When President Obama signed the Dodd-Frank Act into law last summer, he set in motion the most ambitious changes to financial institution regulation since the Great Depression.  The supporters of Dodd-Frank held out the promise that by increasing government control over the economy to an unprecedented degree, the Act would “end too big to fail” and “protect the American taxpayer by… Read more »

The Financial Services Committee, chaired by Rep. Spencer Bachus, will hold a hearing on June 29 at the National Computer Forensics Institute in Hoover, Alabama on the threat cybercriminals pose to individuals and financial institutions. The National Computer Forensics Institute trains law enforcement officers from across the country on how to detect, prevent and prosecute cyber… Read more »

The Financial Services Committee, chaired by Rep. Spencer Bachus, will receive testimony from Treasury Secretary Timothy Geithner on the state of the international financial system at a hearing on Wednesday, June 15 at 10 a.m. in room 2128 Rayburn. Financial Services Committee Chairman Spencer Bachus said, “The Dodd-Frank Act has injected uncertainty into our financial system and… 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 »

Financial Services Committee Chairman Spencer Bachus delivered the following statement today at a full committee hearing on HUD’s management of the Home Investment Partnerships Program:   “The HOME Investment Partnerships Program is the federal government’s largest housing construction program for the poor.  Administered by the Department of Housing and Urban Development, it… Read more »

Continuing the Committee’s focus on promoting job creation, improving the economy and reforming the nation’s housing system, Financial Services Committee Chairman Spencer Bachus announced the planned Committee schedule for the remainder of June.    From the start of the 112th Congress, under Chairman Bachus’ leadership, the Committee has focused on promoting policies that… Read more »

June 3, 2011 Because we’re from the government and we’re here to help you make the ‘correct’ decisions about your life.  “While the academics may suggest giving consumers a ’nudge,’ by the time Washington gets finished, this nudge has become a shove, if not a punch in face.” Read the full story… 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 »

Recently, Democrats have claimed in speeches and media interviews that the Dodd-Frank Act ended “too big to fail” and the bailouts. However, the facts show the Dodd-Frank Act sets up a permanent bailout authority that will continue to privatize profits, and socialize losses. The Special Inspector General for the Troubled Asset Relief Program (SIGTARP) released a report in January 2011 in… Read more »