PolitiFact.com
Statements about Financial Regulation
Sylvia Romo

Sylvia Romo

Mostly False

Conflation inflation

Lloyd Doggett "made millions off companies like Bank of America while they took taxpayer bailout money."

American Future Fund

American Future Fund

Mostly False

It's more like Romney's Wall Street in 2012

"Obama’s flush with cash, returning to Wall Street for even more money. … Wall Street sure supports President Obama."

Mitt Romney

Mitt Romney

No Flip

His view has been nuanced and consistent

On the Troubled Asset Relief Program (TARP)

Facebook posts

Facebook posts

Pants on Fire!

Calculation is based on all compensation for every employee, not just bonuses

"Bank of America could create 878,300 jobs with benefits if they spent their 2010 bonuses on job creation."

Bill Nelson

Bill Nelson

Half-True

Depends on how you define 'speculators'

At the same time gas prices have increased, "the share of the oil market controlled by speculators has more than doubled over the past 10 years."

Rick Santorum

Rick Santorum

Mostly False

Warning wasn't about a bubble

"In 2006, I went out and authored a letter with 24 other senators asking for major reform of Freddie and Fannie, warning of a meltdown and a bubble in the housing market."

Newt Gingrich

Newt Gingrich

Pants on Fire!

Freddie's a GSE, credit union's not

Newt Gingrich says electric co-ops and credit unions are "government-sponsored enterprises" like Freddie Mac.

Newt Gingrich

Newt Gingrich

Pants on Fire!

No. Not really

Says Freddie Mac, electric co-ops and credit unions are all "government sponsored" enterprises.

Michael Doherty

Michael Doherty

False

Not even the year’s right

"Following the catastrophic, cascading collapse of major investment banks on Wall Street in 2007.....Nobody was prosecuted, no hearings were held and no reforms were implemented."

Sherrod Brown

Sherrod Brown

True

Senate made history in blocking confirmation

Richard Cordray’s nomination to head the Consumer Financial Protection Bureau marks the first time in Senate history "that a political party has blocked a nomination of someone because they didn't like the construction of the agency."

Newt Gingrich

Newt Gingrich

False

They're actually doing better

"Community banks … are being destroyed by Dodd-Frank."

Herman Cain

Herman Cain

Half Flip

Cain confusing on Fed position

On auditing the Federal Reserve

Occupy Providence

Occupy Providence

False

Hourly rage

"Minimum wage = $16,000/year CEO-Goldman Sachs (Lloyd Blankfein) $16,000/Hour."

James Langevin

James Langevin

False

Plausible but unproven

"Foster children are disproportionately victims of identity theft."

Michael Moore

Michael Moore

Mostly True

Not any names you've heard of

"Not a single banker, a CEO from Wall Street, anyone from corporate America — nobody, (there was) not one arrest of any of these people who brought down the economy in 2008."

Bernie Sanders

Bernie Sanders

True

Smaller than some foreign-based banks, but still a sizable share

"Today, you have six financial institutions, the largest six, that have assets that are the equivalent of 60 percent of the GDP of the United States of America."

Dennis Kucinich

Dennis Kucinich

True

Poof! Instant assets

"The Fed created $1.2 trillion out of nothing, gave it to banks, and some of them foreign banks, so that they could stabilize their operations."

Rick Perry

Rick Perry

Half-True

Giddyap! Whoa!

Says he did not support the October 2008 legislation to rescue Wall Street firms.

Sean Duffy

Sean Duffy

Mostly False

Paperwork’s piling up, but nobody knows how high on the little guy

The Dodd-Frank financial-reform law’s hundreds of new rules will force small banks and credit unions to burn up "an estimated 2,260,631 labor hours just for compliance."

Rick Scott

Rick Scott

False

Florida's been AAA since 2005

"Our credit rating went up since I've been in office."

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