Unless I missed it, the Stalinist politburo called The Consumer Financial Protection Bureau remains outside the purview and funding by congress.
This is the model which, when the rats control government once again, will be used to implement their final solution the problem of American Constitutionalism.
I am of the opinion that every law and act of congress should have an automatic end date at which time it has to be renewed.
Chris Dodd and Barney Frank were instrumental in the financial collapse from the housing crash in the early 2000’s from laws and threats against the loaning agencies in the 90’s by congress and the media. Using anything they had their names on it was foolish or just plain stupid.
rwood
This Congressman shows he's just another prop, a dufus who has never made a damn thing in his life except for 'talk'.
Breaking down for you Mr. Congressman:
While there are many who argue that the financial collapse in 2008 was caused by lack of regulation ...
No, you couldn't be more wrong here. It wasn't the 'lack of regulation'. It was George Dumbass Bush failing to enforce the laws on the books by telling his investigators and prosecutors to look the other way.
There were, in fact, large numbers of seasoned veteran SEC law enforcement officials who were called off, retired early, reassigned, targeted if they wouldn't heed the look-away policy. These investigators had the goods on many of the criminals on Wall St. including organized crime elements.
What the public doesn't understand so much is that organized crime has migrated from bootlegging and drugs, prostitution and extortion, to white collar financial crime in financial markets and it was Bush that let them have their way because the 'economy' needed to do well.
... overregulation has made it almost impossible for small businesses to thrive
Wrong again Mr. Congressman. Small businesses always struggle, always. It was large corporations headed by CEOs that did not want to sign their name on company performance documents for fear there was no scapegoat to chard any uncovered wrongdoing.
I think this Congressman along with hundreds of others needs a permanent time-out to reflect on just what the hell they're talking about.
Dodd-Frank was odious to the extreme not because they forced large corporate CEOs to be held accountable, but because it provided for Federal Reserve liquidity facilities to perpetuate the Too-Big-To-Fail banking relationships largely influenced by white collar organized crime.
President Trump, in a little noted but highly significant action, early in his term, retracted his discretionary authority to allow the Treasury to continue providing obscene amounts of free money to big banks thereby putting them on notice that if they couldn't keep the lights on and meet payroll, they could go through Chapter 11 just like anyone else. This is what should have happened in 2009, but Obama and his cabal saw they could shake down the big banks for billions in 'penalties' in return for free money from the Fed Reserve window.
So now that President Trump has pulled the plug on criminal banks, they have nothing to keep their momentum going as they angle about looking for food (debt slaves) to swallow and ingest.
The end of big banks is healthy. They will go bankrupt, their operations will be placed into receivership, creditors will be protected, and new management will emerge that operates without never-ending free money from the Federal Reserve.
What must follow is a groundswell of support for a new and better Glass-Steagall but one written by consumer lawyers, not banker lawyers, and certainly NOT Congressmen such as this Williams guy.
What people often miss is the ridiculous leftist proposals that were inserted into Dodd frank, such as the creation of offices of women and minori5y inclusion within various financial regulatory agencies, requirements to review minority hiring practices on Wall Street and other such crap. Keep in mind that this law was put in place to prevent another mortgage market driven collapse of our markets. How do all the leftist diversity initiatives within Dodd frank achieve that? They don’t. It was all a ruse and a cover for the dems to impose their race driven identity politics agenda on the heart of capitalism - Wall Street. Why the republicans never focus on these rediculous requirements in Dodd frank is beyond me. Most people would be appalled if they knew and would easily support repeal. I bet most of you on free republic didn’t know about these Jesse Jackson like rules in Dodd frank.
Reinstate Glass-Steagall now!
After 17 years of a successful and honest business with a solid reputation in the industry Dodd Frank managed to shut my doors.
Chris Dodd and Barney Frank were two of the BIGGEST CROOKS in DC!!! In a fair world, they would both be in PRISON!
Knowing who Dodd & Frank were was reason enough to suspect that Act was no good for the country,but that seems to happen a lot.