Free Republic

Four years ago, the U.S. Supreme Court handed down its decision in the now-notorious case of Kelo v. City of New London, which authorized the government to take private property from individuals for nearly any reason under the guise of eminent domain, even to give to other private individuals or entities. The public outcry over this decision was so great that it forced states to enact laws to significantly rein in their own eminent domain powers. Unfortunately, House Democrats did not learn the lessons of the Kelo decision. A few weeks ago, they passed H.R. 4173, the so-called “Wall Street...

Yet another agency could be coming to the U.S. government, a prospect that may be welcomed by D.C. real estate developers but is dreaded by most of the business community. On a 223-202 vote, the House on Friday passed sweeping changes in how the financial industry is regulated. The legislation aims to prevent the type of systemwide collapse that Wall Street faced a year ago by creating an interagency council that would identify financial firms and activities that could pose a systemic risk to the financial system, and subject them to increased oversight and regulation. It also would establish a...

Another bill passed with ZERO Republican support (and 27 Democrats). So much for the post partisan President.The 27 Dems that voted against it: Berry Bright Boren Boucher Chandler Cuellar Davis (TN) Edwards (TX) Griffith Halvorson Hill Kaptur Kirkpatrick (AZ) Kucinich Massa Mitchell McIntyre Ortiz Perriello Schrader Skelton Space Stupak Taylor Teague Visclosky Blue Dogs who voted for this piece of garbage: Altmire, Jason (PA-04) Arcuri, Mike (NY-24) Baca, Joe (CA-43) Barrow, John (GA-12) Bishop, Sanford (GA-02) Boren, Dan (OK-02) Boswell, Leonard (IA-03) Boyd, Allen (FL-02) Cardoza, Dennis (CA-18) Carney, Christopher (PA-10) Childers, Travis (MS-01) Cooper, Jim (TN-05) Costa, Jim (CA-20)...

Michelle Bachmann describes the Bill that Barney Frank is pushing through as the "Financial Services Takeover Bill".

The House has passed a sweeping overhaul of financial regulations that would govern Wall Street and reconfigure the power of the agencies overseeing the nation's banking system. The vote was 223-202. The legislation is a priority of President Barack Obama's. It is designed to address the shortfalls that led to last year's calamitous financial meltdown. New powers would give the federal government the right to break up big risky companies. It also would create a consumer agency to police lenders.

WASHINGTON - The House passed the most ambitious restructuring of federal financial regulations since the New Deal on Friday, aiming to head off any replay of last year's Wall Street failures that plunged the nation deep into recession. The sprawling legislation would give the government new powers to break up companies that threaten the economy, create a new agency to oversee consumer banking transactions and shine a light into shadow financial markets that have escaped the oversight of regulators. The vote was a party-line 223-202. No Republicans voted for the bill; 27 Democrats voted against it. While a victory for...