The Country Can't Survive Dodd-Frank! The waste left in the wake of two of the most corrupt Congresspersons.

Thousands of new pages of regulations are still to be added to this massive mess of inept over-regulation. All this piece of self-serving legislation did was give cover to the two legislators who were most responsible for the real estate mortgage collapse. Dodd-Frank is so cumbersome and over regulatory that lenders opt not to make loans rather than put up with its maze of paperwork and audits.
It has extended our current economic depression an will do so until it is repealed.

The American Spectator : Could the Republicans Survive Dodd-Frank?

By PETER J. WALLISON on 9.24.12 

Without its repeal, the economy will continue to struggle.

There are always people who believe that Washington's actions are immutable. Yes, they say, the people can elect Republicans who pledge to overturn Obamacare, but when the smoke clears much of it will still be standing. And sure, we have a deficit crisis, but Paul Ryan's budget -- or any other entitlement reform -- will never get 60 votes in the Senate.

And Dodd-Frank? Mitt Romney has pledged to repeal Dodd-Frank. Legislation has been introduced by Republicans in both the House and Senate to bring that about. Yet sophisticated commentators tell us that the buzz cut we need will really be just a light trim around the edges.

If that's how it goes, the Romney administration and the Republican Congress that might take office in 2013 are likely to find themselves in as much economic and job trouble in 2014 and 2016 as Barack Obama finds himself today. That's because this law may be may be the primary reason the economy continues to struggle.

After the financial crisis and the resulting recession, the U.S. economy actually did begin a recovery. By the fourth quarter of 2009, the GDP was growing at an annual rate of almost 4%. At that point, economists were predicting the V-shaped recovery that usually occurs after a sharp recession. Although 4% was not a Reagan-like growth number (the economy grew an average of 8% for the first three quarters of recovery in 1983), at least it suggested an economy on the move.

But as the Dodd-Frank Act took shape in the first two quarters of 2010, the economy began to slow. By the time the law was enacted in the third quarter of 2010, the average rate of growth of the three prior quarters had slowed to 2.5 percent. But the worst was yet to come. After Dodd-Frank, the average annual growth rate of GDP for the seven following quarters has been only two percent, with the most recent quarter growing even more slowly at only a 1.7 percent annual rate.

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