Conservative media Quotes

[T]here will be no check upon the power of the Populistic States to exempt themselves and make a few Eastern States pay all, or nearly all, the tax.

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The New York Times
07/08/2009 | Full Details | Law(s): Tax: Income

The bill would, for instance, prohibit card companies from changing the rates they charge ‘at any time, for any reason.’ Translation: instead of a borrower’s interest rate varying up and down, it will just stay up. Or fees will rise, to offset issuers’ loss of pricing flexibility.

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Thomas Brown, Bankstocks.com.

Dodd’s misbegotten bill would reduce competition and raise costs for the consumer—all so his office can generate press releases that say things like ‘Dodd Fights Card Companies.’ In fact, his fight will end up hurting his own constituents.

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Thomas Brown, Bankstocks.com.

If you compare what the card industry looked like 20 years ago to how it looks today, you’ll be astonished at how much better a deal consumers are lately getting. And government regulation isn’t what drove the improvement; free-market innovation and competition, did. Twenty years ago, all consumers paid the same interest rate—and it wasn’t low (19.8%).

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Thomas Brown, financial columnist, Bankstocks.com.

[The stimulus bill funds] a bureaucratic structure for the government to begin rationing the health care of the American people. They can then lead a national, populist, grassroots movement to force Congress to pass the bill, and President Obama to sign it, educating the public along way about the intractable problems of socialized medicine.

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Peter Ferrara, who served in the Reagan and George H.W. Bush administrations, American Spectator.
02/25/2009 | Full Details | Law(s): Affordable Care Act

Barack Obama supports [new fair pay laws], notwithstanding that they would raise workforce costs in a recession….Whether or not the U.S. economy creates more income in the coming years, Congress is clearly determined to redistribute it.

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From the Wall Street Journal's “Trial Lawyer Bonanza: Off and suing with the 111th Congress."
322301/09/2009 | Full Details | Law(s): Lily Ledbetter Fair Pay Act

Well, that didn't take long. Democrats are planning to kick off the legislative portion of the 111th Congress as early as today with two big donations to one of their most loyal retainers: the plaintiffs bar….For the tort bar, this is pure gold. It would create a new legal business in digging up ancient workplace grievances…. Elections have consequences, and one price of November's vote is going to be a more powerful, and much richer, plaintiffs bar.

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From the Wall Street Journal's “Trial Lawyer Bonanza: Off and suing with the 111th Congress."
322201/09/2009 | Full Details | Law(s): Lily Ledbetter Fair Pay Act

One cannot say with any certainty whether the more important cause of the current housing crisis was affordable-housing mandates or the actions of investment banks and ratings agencies. There can be no doubt, however, that both contributed. With that in mind, the best way to make sure that we don’t repeat our mistakes is to examine — and change — both… If the Community Reinvestment Act must stay in force, then regulators should take loan performance, not just the number of loans made, into account. We have seen the dangers of too much money chasing risky borrowers.

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Howard Husock, New York Times.

There’s little doubt that the rating agencies helped inflate the housing bubble. But when we round up all the culprits, we shouldn’t ignore the regulators and affordable-housing advocates who pushed lenders to make loans in low-income neighborhoods for reasons other than the only one that makes sense: likely repayment… in 1995 the Clinton administration added tough new regulations. The federal government required banks that wanted 'outstanding' ratings under the act to demonstrate, numerically, that they were lending both in poor neighborhoods and to lower-income households. Banks were now being judged not on how their loans performed but on how many such loans they made. This undermined the regulatory emphasis on safety and soundness.

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Howard Husock, New York Times.
339712/10/2008 | Full Details | Law(s): Community Reinvestment Act

…in an attempt to increase homeownership-particularly among minorities and the less affluent-an attack on underwriting standards has been undertaken by virtually every branch of the government since the early 1990s.

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Stan Leibowitz, National Review.

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