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    President Obama and Wall Street: Good Goals, Bad Plan

    President Obama went to Wall Street today to make the case for financial regulation. Putting aside the bank-bashing rhetoric employed just a few months ago (“…if these folks want a fight, it’s a fight I’m willing to have“), this time he was measured in his rhetoric, making the case for … More

    Morning Bell: The Wall Street Bailout Bill Threat to Your Bottom Line

    This past Friday, President Barack Obama again threatened to veto any financial reform bill that fails to tightly regulate financial derivative products which many blame for the 2008 economic crisis. Derivatives work like insurance to protect certain investments, and provide stability to the price of most goods and services. For … More

    Financial Reform: Blocking Innovation, Not Meltdowns

    One of many bureaucratic boondoggles in the Senate financial “reform” legislation is a “Bureau of Consumer Financial Protection Protection.” Just how exactly would the proposed new bureaucracy protect consumers? The same way bureaucrats do everything: with more paperwork and fewer choices. A few years ago, a TV commercial showed a … More

    President Obama Threatens Veto on Financial Regs for Wrong Reasons

    So now President Obama is threatening to veto financial reform legislation Democratic leaders in Congress are working to pass if it is not tough enough on derivatives. There is really no disagreement between Obama and Congressional Democrats on the issue, just a bizarre attempt to make non-news. Obama is in … More

    In Their Own Words: Geithner Makes the Case for Permanent Bailouts

    Conservatives say the Dodd Finance Bill means Wall Street Bailouts Forever. Progressives say the Dodd bill “makes bailouts impossible.” Who’s right? Well lets ask Treasury Secretary Timothy Geithner who described the bill this way in The Washington Post: The Senate bill gives the government the authority to wind down the … More

    Obama: Read My Lips, No More Bailouts (But Let's Keep $50 Billion Around Just in Case)

    President Obama met today with members of Congress to jawbone them on the pending financial reform bill. A key part of his message: “we must end taxpayer bailouts.” Few statements are less controversial than that. Nobody wants to see more bailouts. But wait a second. Doesn’t the very legislation he’s … More

    Morning Bell: Wall Street Bailouts Forever

    There is no person more central to Washington’s bailouts of Wall Street than Treasury Secretary Timothy Geithner. As President of the Federal Reserve Bank of New York, he oversaw the federal bailout of Bear Stearns and under former Treasury Secretary Hank Paulson, Getihner designed the original bailout plan for the … More

    How To Create Bailouts Forever

    Treasury Secretary Timothy Geithner stumps for Sen. Chris Dodd’s (D-CT) finance reform bill in today’s Washington Post: As the Senate bill moves to the floor, we must all fight loopholes that would weaken it and push to make sure the government has real authority to help end the problem of … More

    Morning Bell: Dodd Bill Creates Permanent TARP and You Can Quote That

    In mid-October 2008, at the height of the Presidential campaign, Heritage Foundation analyst Rea Hederman began receiving emails alerting him that he was a star in a new multimillion-dollar ad campaign for then-candidate Barack Obama. The ads claimed that Hederman believed the middle class would be better off under the … More

    Dear Obama Treasury Department: Dodd Plan, Increases, Not Decrease Chance of Future Bailouts

    Speaking yesterday to the U.S. Chamber of Commerce’s Fourth Annual Capital Markets Summit, Deputy Secretary of the Treasury Neal S. Wolin made the case for Sen. Chris Dodd’s (D-CT), including this: This should not be a partisan or ideological debate. As David John of the Heritage Foundation has said, “Taxpayers … More