A couple of weeks ago I wrote a column that referenced recently retired senator Christopher Dodd and Rep. Barney Frank as the most vocal supporters of increasing homeownership in America. With such support also came their support of subprime lending.
Former Sen. Christopher J. Dodd of Connecticut is taking over as head of the Motion Picture Association of America.
The 2,300-page Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law by President Obama last year, enshrines "too big to fail," further politicizes the Federal Reserve by planting diversity czars at each of its banks, imposes a huge regulatory burden on the consumer financial services industry, and does nothing to prevent what caused the financial crisis: easy Fed credit and politically driven weakening of mortgage credit underwriting.
''I'm from the government, and I'm here to help." Ronald Reagan called those "the nine most terrifying words in the English language" - and with good reason. Nowhere do we see good intentions go awry more regularly than in the hallowed halls of government.
With President Obama's newfound commitment to regulatory reform, we have a consensus on one of the most pressing problems our economy faces as it struggles to create jobs. The $1.75 trillion cost of complying with federal regulations - which amounts to $10,500 per employee every year for small businesses - is crippling our economy. Regulatory review is necessary but not sufficient - especially if regulators are able to move full-steam-ahead to pile even more burdensome red tape onto American businesses while the review is conducted.
The Senate Select Committee on Ethics has dismissed a complaint alleging that outgoing Sen. Christopher J. Dodd obtained a cottage in Ireland at a low price as an improper gift from a businessman.
When Republicans take control of the House next month, few committees will undergo a more drastic transformation in style, tempo and possibly legislative action than the Financial Services one.
President Obama on Friday formally tapped Harvard Law Prof. Elizabeth Warren as a "special adviser" tasked with setting up a new consumer watchdog agency, sidestepping a thorny Senate confirmation battle and drawing the ire of Republicans.
President Barack Obama has named Wall Street critic Elizabeth Warren to help oversee creation of a new agency to look out for the interests of consumers in their dealings with banks, mortgage companies and other financial institutions.
