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  • financial regulation

    Morning Bell: The Dodd-Frank Assault on Economic Recovery

    Following the release of the 2,000-page Dodd-Frank financial regulation bill last Friday, fixed-income portfolio manager Christine McConnell told Businessweek: “Clarity is good. [Once financial institutions] understand the rules of the road they’ll be able to accommodate their business models.” There is only one problem: passage of the Dodd-Frank bill doesn’t … More

    Financial Regulation After Robert Byrd

    Because of the death of Sen. Robert Byrd (D-WV), prospects for passage of the conference report on Financial Regulatory Reform is now in a holding pattern. This conference report is expected to pass the House this week, but prospects for passage in the Senate are in doubt. President Obama has … More

    House and Senate Cloakroom: June 28 – July 2, 2010

    House Cloakroom: June 28 – July 2, 2010 Analysis: Moving in to the final week before the July 4th recess, the House is expected to take up the War Funding Supplemental, which is an $84.3 billion bill that includes only 39% for actual defense and military construction. The bill was originally … More

    Morning Bell: Dodd Bill is Just the Beginning of 'Too Big to Fail'

    Majority Leader Harry Reid (D-NV) failed to end debate on Sen. Chris Dodd’s (D-CT) financial regulation bill yesterday when two Democrats broke ranks to vote with conservatives. The Dodd bill is already a big government monstrosity, expanding powers for existing Washington regulators as well as creating and empowering new ones. … More

    Dodd and Derivatives: Swapping New York for London

    Senate Democrats secretly agree that Sen. Blanche Lincoln’s (D-AR) proposal to attempt to impose a complete separating on credit default swaps and credit providers (i.e. banks) makes no sense. But they’re too embarrassed to say so while Lincoln uses the proposal to wage a populist campaign for re-nomination against liberal Arkansas … More

    Dorgan’s Naked Idea – Doesn’t Work

    As debate on the Wall Street “Reform” bill winds down in the Senate, Sen. Byron Dorgan (D-ND) is still pushing his ban on “naked” credit default swaps. We warned that the idea wouldn’t work. Now we have some real world experience with just such a proposal: Germany banned the practice … More

    Financial Regulation: Small Business, Little Role

    It’s a small issue, but a telling one. As the Senate continues to debate financial regulation, two senators — Olympia Snowe of Maine and Mark Pryor of Arkansas — have proposed an amendment to ensure that regulators consider the effects of new rules on small businesses. Specifically, the two would … More

    Guest Blogger: Rep. Peter Roskam (R-IL) on Fannie Mae and Freddie Mac

    In the last week, the government-backed mortgage finance giants Fannie Mae and Freddie Mac asked the taxpayer for $19 billion to stay afloat.  Add that to the $127 billion in bailouts they have already received since September 2008, and we are now talking about a whopping $146 billion of your … More

    NEW VIDEO: Heritage's Entry to the EPA Video Contest

    In case you had any doubts about whether Washington bureaucrats were completely out of touch with ordinary Americans, the Environmental Protection Agency is here to reassure you—they are. While Americans across the country have been tightening their belts and dealing with a wave of new taxes, fees, and regulations, the … More

    Guest Blogger: Rep. Ed Royce (R-CA) on Financial Regulatory Reform

    As the Senate moves closer to another cloture vote on Senator Dodd’s legislation, we are again reminded of the several flaws found in the Dodd-Frank approach to financial regulatory reform. Beginning with the rescue of investment bank Bear Stearns in the spring of 2008, the Federal government has committed trillions … More