Money

Senator Pat Toomey Issues Statement on ‘Too Big To Fail' Executive Order
Senator Patrick J.Toomey - (R - PA)
April 21, 2017
"I applaud the President's two Executive Orders today focused on examining the Financial Stability Oversight Council's (FSOC) determination of ‘systemically important financial institutions' and Dodd Frank's Orderly Liquidation Authority (OLA). The FSOC and the OLA are two of the most egregious provisions of the Dodd-Frank Act, and are counterproductive to ending both taxpayer bailouts for banks and so-called ‘Too Big To Fail.' Bailouts, and the potential for bailouts, undermine market discipline and unfairly put America's taxpayers on the hook for Wall Street's mistakes.
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MERKLEY STATEMENT ON VOLCKER ENFORCEMENT ACTION AGAINST DEUTSCHE BANK
Jeff Merkley - (D - OR)
April 21, 2017
Oregon’s Senator Jeff Merkley released the following statement after the Federal Reserve fined Deutsche Bank $157 million for infractions, including violating the Volcker Rule. The fine is the first related to enforcement of the Volcker Rule, which Merkley co-authored along with former Senator Carl Levin as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Volcker Rule, which places a firewall between traditional banking and risky proprietary trading activities, was implemented by regulators in July 2015.
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Rare Op-Ed: Ron and Rand Paul: Now is the time to pass Audit the Fed
Senator Rand Paul - (R - KY)
April 18, 2017
While it took our nation more than 225 years to accumulate nearly $20 trillion in debt (and much, much more if you factor in unfunded liabilities), our central bank can put Americans on the hook for trillions without blinking by simply creating whatever funds it needs out of thin air. Its status as “the lender of last resort” signs a blank check for politicians to spend to their heart’s content without worrying about the immediate consequences.
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Graham on Ex-Im: Well Done, Mr. President
Senator Lindsey Graham - (R - SC)
April 12, 2017
“The Ex-Im Bank makes money for the American taxpayer and allows American manufacturers to compete for business in the developing world on a level playing field. Well done, Mr. President.”
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Trump reverses stances on China as currency manipulator, Ex-Im Bank
Politico
April 12, 2017
During his presidential campaign, Trump said he would designate China as a currency manipulator on the first day of his presidency to “force China to the negotiating table.” And he criticized Yellen last year precisely because she kept interest rates low, accusing her of keeping rates “artificially low” to boost the economy and help President Barack Obama.
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