• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Washington in a Flash: Dodd-Frank Anniversary No Cause for Celebration

    The Senate Banking Committee welcomes Rep. Barney Frank (D-MA) to testify on the first anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The financial regulation bill has contributed to higher unemployment by imposing needless regulation on small and large financial institutions. It has deterred investment by imposing ill-defined restrictions on those who want to invest in the economy. The law has recently been under increased scrutiny.

    Today also marks the opening of the Consumer Financial Protection Bureau, created by Dodd-Frank. Heritage’s Diane Katz called it an “unchecked regulatory agency” that poses a threat to consumers. Earlier this week President Obama tapped Richard Cordray to head the CFPB, a nominee the free-market Club for Growth labeled “just another foot-soldier in Obama’s war on economic freedom.”

    Across the globe, meanwhile, Secretary of State Hillary Clinton continues her tour of Asia today with a trip to Indonesia, a country that ranked 116th in the 2011 edition of Heritage’s Index of Economic Freedom. That puts it 22nd out of 41 countries in the Asia-Pacific region.

    Posted in Scribe [slideshow_deploy]

    One Response to Washington in a Flash: Dodd-Frank Anniversary No Cause for Celebration

    1. Scott Van Meter says:

      i wish that Dodd Frank could be explained in greater detail, for the not so bright (me). I hear bits and pieces here and there but no breakdown like in a good NFL post game show w/ highlights.

      If you catch my meaning.

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.