Nine things to know about Dallas Rep. Jeb Hensarling
AUSTIN — With House Speaker John Boehner on the way out, speculation is amok about the future of Rep. Jeb Hensarling, R-Dallas.
Some think Hensarling might challenge Majority Leader Kevin McCarthy, R-California, for the speakership. But if McCarthy gets the spot, that would leave his current position open for Hensarling. Either way, the Dallas Republican is set for a leadership promotion.
If he goes for either spot, here’s nine things to know about him:
- 1. Hensarling and his family have deep ties to Texas.
- 2. Hensarling has held onto his seat without too much trouble.
- 3. His current position gives him clout.
- 4. He led an effort to kill the Export-Import Bank of the United States.
- 5. He opposed the financial bailout in 2008, and continues to oppose other bailouts.
- 6-9 at Dallas News
After Five Years, Dodd-Frank Is a Failure
Tuesday will mark five years since President Obama's signing of the Dodd-Frank law, the most sweeping rewrite of the country's financial laws since the New Deal. Mr. Obama told the country that the legislation would "lift our economy." The statute itself declared that it would "end too big to fail" and "promote financial stability."
Dodd-Frank was based on the premise that the financial crisis was the result of deregulation. Yet George Mason University’s Mercatus Center reports that regulatory restrictions on financial services grew every year between 1999-2008. It wasn’t deregulation that caused the crisis, it was dumb regulation.
Among the dumbest were Washington’s affordable-housing mandates, beginning in 1977, that led to a loosening of underwriting standards and put people into homes they couldn’t afford. The Federal Reserve played its part in the 2008 financial crisis by keeping interest rates too low for too long, inflating the housing bubble. Washington not only failed to prevent the crisis, it led us into it.
Editorial: Congress should let Ex-Im charter expire
Congress returns to its business facing a question that manifestly affects our business: How much should the federal government jam a meaty thumb onto the scale and favor one company over another?
This is what the Export-Import Bank of the United States has done for more than 80 years. It gives taxpayer-backed financing to foreign governments and companies at below-market rates to help them buy U.S. goods. So, in theory, select U.S. exporters, their foreign customers and the banks that get loan guarantees all benefit.
The problem is that for each U.S. company that benefits, its domestic competitors face a tougher road. By definition, this puts the government in the position of choosing winners and losers in what should be a free market.
ICYMI: Subpoenas of the Fed & Calling for the end of Export-Import
Here is a quick update on our efforts to stop the Washington insider economy by stopping the Export-Import Bank.