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Wednesday, July 10, 2013

Hearing Witnesses Say Dodd-Frank Has Constitutional Problems

The House Financial Services Committee held a hearing to examine the constitutionality of portions of the Dodd-Frank Act, specifically the Financial Stability Oversight Council and Orderly Liquidation Authority.

The witnesses testified that the Dodd-Frank Act does have serious constitutional problems such as First Amendment infringements. The witnesses noted that if the government would try to inappropriately liquidate a company using the Orderly Liquidation Authority, anyone leaking or discussing the situation publicly could face criminal penalties of up to 5 years in jail.

Read the prepared testimonies and watch an archived video of the hearing.

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