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GOP presidential debate Tuesday, former House Speaker Gingrich said, “I am shocked that the House Republicans have not repealed Dodd-Frank.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:
Retype 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

Democrats Keep Obama at Distance Ahead of Mid-Term Elections

Friday, 29 Aug 2014 22:00 PM

Barack Obama's Democrats are walking a tightrope 10 weeks before US congressional elections: do they solicit the unpopul . . .

Mitch McConnell's Campaign Manager Resigns Amid Iowa Scandal

Friday, 29 Aug 2014 21:55 PM

Senate Minority Leader Mitch McConnell's campaign manager resigned Friday amid fallout from a scandal in Iowa involving  . . .

Obama: GOP Captive to Ideologically Rigid Group

Friday, 29 Aug 2014 21:17 PM

President Barack Obama on Friday blamed dysfunction in Congress on a Republican Party he said is captive to an ideologic . . .

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