Morning Bell: Administration Ignores Law, Delays Exposing New Regulations
After three years of hyper-regulation, the Obama Administration has noticeably slowed its rulemaking in recent months. A variety of major rules have been parked in prolonged “review” by the White...
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Morning Bell: See America’s Ranking in the 2013 Index of Economic Freedom
When we talk about “economic freedom,” what do we mean—and why does it matter? Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically...
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CFPB Servicing Rules Are Excessive and Unauthorized
Camilla Zenz/Zuma Press/Newscom The Consumer Financial Protection Bureau (CFPB) has imposed yet more regulation on the mortgage market, as required by the Dodd–Frank statute. The latest set of...
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Obama Picks a Prosecutor: Mary Jo White Appointed to Head SEC
Kevin Dietsch/UPI/Newscom President Obama, moving quickly to complete the lineup for his second-term regulatory team, nominated attorney Mary Jo White yesterday to chair the Securities and Exchange...
View ArticleTales of the Red Tape #39: Swapping Wealth Creation for Regulatory Claptrap
Not many people know the meaning of “swap” (as in a financial hedge, not flea market). Only the most sophisticated investors actually understand the complexities of buffering risk by exchanging cash...
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Dodd-Frank: Dismal Findings on Rulemaking
Photo credit: Newscom Two recent reports document anew the failure of federal agencies to meet the extensive rulemaking requirements of the Dodd–Frank statute. The regulatory backlog highlights how...
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Small Business Owners to Congress: Fix the Debt with Entitlement Reform
Photo credit: Newscom The National Small Business Association’s economic report finds, “The growing national debt is the number one thing small businesses thin[k] Congress and the administration should...
View ArticleMorning Bell: Remember the Economy? It’s Still Bad
According to a poll earlier this year, voters have a higher opinion of cockroaches than Congressmen. President Obama’s personal popularity remains solid, but his job approval rating is going down. Why...
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Housing Finance Nominee: Expect Big Government Housing Policies Doomed to Fail
Polaris/Newscom President Obama nominated Representative Mel Watt (D–NC) as new chief regulator to the Federal Housing Finance Agency (FHFA), replacing the current acting director Edward DeMarco. Watt...
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A Band-Aid for Derivatives Trading
Uli Deck/dpa/picture-alliance/Newscom American regulators yesterday agreed, both internally and with the European Union, on how to deal with the trading of financial derivatives beyond U.S. shores. The...
View ArticleANALYSIS | Obama’s Economic Speech: Another Summer Rerun
President Obama traveled to Illinois today to give the same tired, worn-out economic speech he’s been giving for almost five years now. Rather than offering new solutions that could revive the dormant...
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CBO Long-Term Budget Outlook Shows Tax Hikes Unnecessary—Again
Photo by Kristoffer Tripplaar/ABACAUSA.COM The Congressional Budget Office (CBO) released its long-awaited long-term outlook on the budget today. As surely as the sun rises in the east, it shows there...
View ArticleCloakroom: October 28 – November 1
House Analysis: This week the House may consider two bills that would amend Dodd-Frank, the Retail Investor Protection Act and the Swaps Regulatory Improvement Act. On October 30, conferees from the...
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How President Obama Is Killing Jobs
AFP PHOTO/Brendan SMIALOWSKIBRENDAN SMIALOWSKI/AFP/Getty Images Five years on and President Obama still refuses to assume responsibility for his woeful economic record. The buck stops with Republicans,...
View ArticleBankruptcy Is Better Than a Bailout
Today Senators John Cornyn (R–TX) and Pat Toomey (R–PA) introduced the Taxpayer Protection and Responsible Resolution Act to begin repairing some of the damage caused by the Dodd–Frank regulations. The...
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House Members Ask DOJ to Investigate Bank Fees — Will the Trail Lead Back to...
Sen. Dick Durbin (D-IL), author of the Durbin Amendment to the Dodd-Frank financial regulatory bill When Bank of America announced a new $5 debit card fee in late September (along with a slew of other...
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Blame Dick Durbin for Bank Fees
Bowing to competitive pressures, Bank of America yesterday scrapped plans to impose a monthly debit card fee. The proposed charge antagonized customers and provoked vitriol from politicians all too...
View ArticleSen. McConnell: Americans Don’t Approve of Anything Obama Has Done
In an exclusive interview with The Heritage Foundation, Senate Minority Leader Mitch McConnell (R-KY) sharply criticized President Obama for engaging in class warfare and accused him of shifting the...
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Morning Bell: ‘Buying’ House Votes for Unpopular Legislation
An examination of “administrative earmarks” around the time of congressional votes on key pieces of President Obama’s agenda suggests the White House used its power to fund local projects as a means to...
View ArticleDurbin Amendment Damage Grows
Remember when last September Senator Dick Durbin (D–IL) claimed that his contribution to the Dodd–Frank financial regulation statue—“the Durbin Amendment”—would benefit consumers? Well, more evidence...
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