Soon we will mark the fifth anniversary of the financial crisis that wrecked our economy, left millions of Americans unemployed and from which we have yet to recover. From a public policy perspective, the great tragedy of the financial crisis was not that Washington failed to prevent it, but that Washington helped lead us into it. The crisis largely started with a noble intention: Every American should own a home. The result was that well-meaning but misguided policies — principally the “Affordable Housing Goals” of Fannie Mae and Freddie Mac — either strong-armed or enticed financial institutions into loaning money to people to buy homes they sadly couldn’t afford. In fact, over 70 percent of the nontraditional mortgages that led to the crisis were backed by Fannie, Freddie and other taxpayer-subsidized programs.
WSJ Editorial: Housing Reform Breakout The House GOP moves to revive the private home mortgage market. One perverse result of the financial crisis is that Washington has nationalized housing finance. Taxpayers guarantee about 85% of new mortgages, some $5.1 trillion in mortgage credit...
The House Financial Services Committee disinvited Consumer Financial Protection Bureau chief Richard Cordray from testifying Tuesday, noting President Obama's non-recess, recess appointment of Mr. Cordray and a January D.C. Circuit Court of Appeals decision, Noel Canning v. NLRB, that invalidated other appointments made under the same pretense. In a letter to Mr. Cordray, Texas Republican Jeb Hensarling said his committee stands "ready to accept the testimony of the Director of the CFPB" when "an individual validly holds this position."
WASHINGTON – Congressman Jeb Hensarling (R-Texas) – a leading conservative and chairman of the House Financial Services Committee – joined CNBC’s The Kudlow Report and FNC’s Hannity last night to discuss the Federal Reserve’s monetary policy and President Obama’s harmful sequestration.
There is no doubt that Hurricane Sandy rendered unspeakable damage to lives and property on our East Coast. It truly represents one of the great natural disasters of recent history. For millions of our fellow citizens, the devastation has been unfathomable. We are a compassionate nation, and that is why this week the House of Representatives is taking up its second Hurricane Sandy relief bill.
Congressman Jeb Hensarling (R-TX), Chairman of the House Republican Conference, appeared on Battle Line with host Alan Nathan, a nationally syndicated radio show on the Main Street Radio Network, on Wednesday, October 10th to discuss the attack on the U.S. Consulate in Benghazi, Libya in September. Below are excerpts from the interview.
Two years ago, I was one of 43 members of Congress appointed to the conference committee for the Dodd-Frank financial-reform bill. Along with others, I fought against the legislation and lost.After an all-night session, Democrats (who then held the House...
Yesterday was a bad day for freedom. I respect the Supreme Court’s decision, but I vigorously disagree with its core ruling. While the court was heard from Wednesday, the American people will be heard from in November.President Barack Obama’s health...
Congressman Jeb Hensarling (R-TX), Chairman of the House Republican Conference, appeared this morning at a press conference with members of House Republican Leadership to address the state of the Obama economy in light of this morning’s report that the unemployment rate has risen to 8.2 percent, making May the 40th straight month that unemployment has been stuck above 8 percent.
The news of J.P. Morgan Chase’s recent trading loss has raised the cry of “I told you so” from proponents of the almost 2-year-old Dodd-Frank Act. They say the law’s Volcker rule would have prevented such a loss and that without more regulation, financial institutions will continue to make poor investment decisions.
As an opponent of Dodd-Frank and one of many who have warned against the politicization of our economy, the threat of future bailouts and attempts by the government to eliminate risks, I also wish to say, “I told you so.”
WASHINGTON – Congressman Jeb Hensarling (R-TX), chairman of the House Financial Services Committee, released the following statement today on the Obama Administration’s deal with Iran.
WASHINGTON – Congressman Jeb Hensarling (R-TX) – a leading conservative and chairman of the House Financial Services Committee – released the following statement today regarding the ever growing list of glitches, cancellations, and broken promises of Obamacare.
WASHINGTON – U.S. Congressman Jeb Hensarling (TX-05), a leading conservative and chairman of the House Financial Services Committee, released the following statement after the House of Representatives passed three bills related to our nation’s energy production – the Federal Lands Jobs and Energy Security Act of 2013 (H.R. 1965), the Protecting States’ Rights to Promote American Energy Security Act (H.R. 2728), and the Natural Gas Pipeline Permitting Reform Act (H.R. 1900).
WASHINGTON – Congressman Jeb Hensarling (R-TX) – a leading conservative and chairman of the House Financial Services Committee – released the following statement today upon passage of legislation, which he co-sponsored, that will allow American’s to keep their health care plan.
WASHINGTON – U.S. Congressman Jeb Hensarling (TX-05) released the following statement commemorating Veterans Day:
WASHINGTON – Congressman Jeb Hensarling (R-TX) – a leading conservative and chairman of the House Financial Services Committee – released the following statement today regarding President Obama’s trip to Dallas, TX to attempt to promote Obamacare.
WASHINGTON – Congressman Jeb Hensarling (R-TX) – a leading conservative and chairman of the House Financial Services Committee – announced today he has co-sponsored legislation that will allow Americans to keep their health care plan.
WASHINGTON – U.S. Congressman Jeb Hensarling – a leading conservative and chairman of the House Financial Services Committee – released the following statement on the Senate’s continuing resolution and unconditional debt ceiling increase, which the House considered earlier tonight:
WASHINGTON – Congressman Jeb Hensarling (R-TX) – chairman of the House Financial Services Committee – released the following statement regarding President Obama’s invitation to meet with House Republicans at the White House tomorrow.
WASHINGTON – Congressman Jeb Hensarling (R-TX) – a leading conservative and chairman of the House Financial Services Committee – released the following statement regarding the actions taken by the House to fund the government.
Freedom is not free – it comes at incredible cost. Throughout our nation’s history, whenever our country is attacked or when enemies of freedom threaten peace in our world, American men and women in uniform answer the call to defend...
As the son and grandson of farmers, I grew up working on my family’s farm. In fact, my first job was cleaning out chicken houses at the age of 12, so I understand that small farmers and ranchers face enough challenges. The last thing they need is unelected, unaccountable Washington bureaucrats adding even more burdensome federal rules. That is why I am pleased to report that—thanks to outcry from farmers and ranchers in East Texas and across the country—the Department of Labor (DOL) has withdrawn a proposed rule imposing a new, unnecessary, job-killing regulation that would have had a devastating impact on the economy of our rural communities.
I had the privilege last week to travel across the 5th District, visiting with constituents and hearing their concerns. One of their major concerns was the high cost of energy. East Texas families and job creators are struggling to fill up their pickup trucks and their cars. They are struggling to take their children to school and their elderly parents to the doctor.
This week, I joined several other Republican leaders on the House Financial Services Committee in sending a letter to Treasury Secretary Timothy Geithner that expressed our strong opposition to “American taxpayer dollars being used to bail out Europe” and requested assurances that “taxpayer funds will not be used to subsidize Europe’s financial programs through additional contributions to the International Monetary Fund (IMF).”
For many years, the citizens of Henderson County and surrounding communities throughout America have celebrated the Christmas season with an array of decorations surrounding the courthouse square—including a traditional Christian Nativity scene. I have had the opportunity to visit the...
This week in Washington, the House passed the Farm Dust Regulation Prevention Act (H.R. 1633) to ease the federal regulatory burden on farmers, ranchers and rural businesses in order to restore confidence and create jobs. I was proud to vote for this bill and enter the following statement into the congressional record.
Veterans Day is an opportunity to say ‘Thank you’ to the generations of patriots who’ve volunteered to protect our country and defend liberty. Today, and every day, let us never forget that Freedom is not free – it comes at...
As you are aware, our nation's health care and retirement programs are going broke while simultaneously starting to disserve their beneficiaries. Increasingly doctors are not accepting Medicare patients; we are seeing forms of rationing when it comes to access and quality. When it comes to Social Security, our children are due to put more money into the system than they take out.
While the rate of growth for Social Security, Medicare and Medicaid is unsustainable, we do not have to cut one penny from these programs to save them. All we have to do is slow their rate of growth if we want to solve our nation's structural debt crisis and ensure these programs are around for future generations.
This week, House Republicans continued our commitment to relieve job creators of excessive regulatory burdens, like those imposed by the EPA through its new Boiler MACT (maximum achievable control technology) rules, by passing the EPA Regulatory Relief Act of 2011 (H.R. 2250).
The Boiler MACT rules unfairly threaten the operations of countless schools, hospitals, factories and other key employers in East Texas by forcing them to pay more and hire less as a penalty for simply owning certain heating equipment. With this bill, thousands of jobs will be saved as job creators will have one less roll of confidence-killing red tape to worry about.
Today, the U.S. Department of Labor announced that the unemployment rate continues to stall at 9.1 percent. Our nation’s prolonged jobs crisis is serious and somber but far from surprising. If the president had the opportunity to listen to the...