Tags: gingrich | bachmann | dodd | frank

Gingrich, Bachmann Press to Repeal Dodd-Frank

Thursday, 13 Oct 2011 11:19 AM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Republican presidential candidates Newt Gingrich and Michele Bachmann are pushing the GOP-controlled House to repeal the Dodd-Frank 2009 financial reform law. But GOP leaders in the House — and the Senate — are in no rush to make the attempt because the effort probably would fail, and Dodd-Frank doesn’t resonate with ordinary Americans like the 2009 healthcare reform law, The Hill reports.

Indeed some Americans like the idea of putting more regulatory clamps on banks after taxpayers had to bail them out during the financial crisis. Some Republicans believe trying to repeal Dodd-Frank would simply give Democrats political leverage, allowing them to brand Republicans as defenders of Wall Street greed.

Gingrich and Bachmann are insistent. During the GOP presidential debate Tuesday, former House Speaker Gingrich said, “I am shocked that the House Republicans have not repealed Dodd-Frank. They ought to do it now.” He even suggested that the bill’s sponsors, former Sen. Chris Dodd, D-Conn., and Rep. Barney Frank, D-Mass., should be thrown in jail.

Minnesota Rep. Bachmann has introduced a bill for repeal, but the House leadership hasn’t joined to sponsor it.

Both House Speaker John Boehner and Senate Minority Leader Mitch McConnell have kept the issue on the back burner. To some extent, they’re caught between a rock and a hard place. If Republicans push for repeal, Democrats will call them lapdogs for Wall Street. But if they do nothing, conservatives will be upset for their lack of commitment to deregulation.



© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

House Dems Launch Their Own Benghazi Website

Tuesday, 16 Sep 2014 19:58 PM

Democrats on the House Benghazi Select Committee unveiled a website on Tuesday intended to answer questions about the 20 . . .

Carter Grandson Giving Georgia GOP Gov. Deal a Tough Battle

Tuesday, 16 Sep 2014 19:14 PM

Georgia Republican Gov. Nathan Deal is in a tight race with gubernatorial challenger Jason Carter, who's running with bo . . .

Huckabee's Foreign Policy Talk Signals Possible 2016 Run

Tuesday, 16 Sep 2014 16:59 PM

On Monday, Fox News host and former presidential candidate and Mike Huckabee talked foreign policy for most of a 45-minu . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved