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Category: Editorials Editorials
Published: 08 June 2017 08 June 2017

Statement from Norbert Michel, Senior Research Fellow, Financial Regulations and Monetary Policy at The Heritage Foundation:

“The Dodd-Frank repeal bill that passed the House this afternoon is a giant leap forward in reining in out-of-control Washington regulations.

"In 2010, some in Washington tried to pull the wool over the eyes of the American people by claiming that the Dodd-Frank reforms would prevent another financial crisis - that claim was an outright lie.

"Dodd-Frank systemically ignored the actual causes of the last crisis and all but guaranteed a future one while leaving taxpayers on the hook for bailouts. The bill that passed today isn't perfect, but will go a long way to correcting the problems within our financial system, restraining bureaucrat regulators and preventing future bailouts with taxpayer money.”