Dallas Rep. Jeb Hensarling seen as strong possible Trump pick for Treasury
WASHINGTON — In Congress, Jeb Hensarling has pushed an aggressive conservative agenda to scale back bank regulations, cut taxes, avoid bailouts, get the federal government out of the mortgage market, and make it harder for the nation's central bank to print money.
As Treasury secretary — the job he interviewed for at Trump Tower on Thursday — he'd have a megaphone on those issues. Reaction so far from fellow congressional Republicans and analysts has been positive.
This Congressman Could Turn the Dodd-Frank Financial Reforms Upside Down
Veteran Texas Congressman Jeb Hensarling has said that he doesn't expect to become Treasury secretary in a Donald Trump presidency. But as chairman of the House Financial Services Committee, he may wind up having almost as much influence. And that means the nation's economic future will be charted, in part, by a zealous deregulator, spending hawk, and unbending free-market crusader–one who will relentlessly prod the Trump administration to uproot the Obama era's sweeping financial reforms.
Hensarling is a longtime foe of Obama's landmark Dodd-Frank legislation, the 2010 legislation that, he claims, has strangled credit and hobbled America with years of zombie-like growth. The congressman is championing the Financial CHOICE Act, a radical measure that would scrap most of Dodd-Frank’s highly restrictive measures.
Hensarling Statement on Gov. Mike Pence
WASHINGTON—Congressman Jeb Hensarling (R-TX) released the following statement in response to news reports that Donald Trump will name Mike Pence as his vice presidential running mate:
"Mike Pence is perhaps the most principled conservative leader in America today. He comes from the heartland and speaks from the heart. He has shown he can both fight and lead for the cause of freedom in order to lift up the common man—even taking on his Party's leadership whenever necessary. He's battled tested. He’s respected, liked, and admired by all who ever worked with him. Mike inspires people, and his boundless optimism in America is infectious at a time when so many have lost hope. If selected, he will be a great addition to the ticket and he will make a great Vice President. Personally, I am proud to call him my friend."
Hensarling Releases Statement on FBI’s Investigation of Secretary Clinton
WASHINGTON—Congressman Jeb Hensarling (R-TX) released the following statement after FBI Director James Comey recommended to the Justice Department that Secretary Clinton not face criminal charges following an investigation into the private email server she used while serving as Secretary of State:
"Today's recommendation from Director Comey reaffirms there is one set of rules for the Clintons and another for everyone else. Comey himself called Clinton 'extremely careless' and said she 'should have known better' when sending classified emails over her private server. Yet, it seems, she'll face nothing more than a slap on the wrist.
"Though she may not face criminal charges for her conduct, we do know this: Hillary Clinton intentionally misled the public, mishandled classified information, and put our national security at risk. This should, at a minimum, disqualify her from being Commander in Chief. We should expect more from our elected leaders, and those seeking the highest office in the land should be held to a higher standard."
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.