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Home > Analysis and Commentary, Association, Finance, Legislation, Manufactured Housing Industry, News Item, People, Politics, regulation, Small Business > White House Signing Ceremony on Historic Pro-Growth Financial Regulatory Reform

White House Signing Ceremony on Historic Pro-Growth Financial Regulatory Reform

May 25th, 2018

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WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement to the Daily Business News upon attending a signing ceremony at the White House for S. 2155.

 

The “Economic Growth, Regulatory Relief and Consumer Protection Act,” is the formal name for S 2155, which was signed into law yesterday.

The White House pressroom provided the video below.

 

 

Hensarling’s office tells MHProNews that this “represents the most significant pro-growth financial regulatory reform package since the passage of Gramm-Leach-Bliley nearly a generation ago.”

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Jeb Hensarling, official photo, chairman of the powerful House Financial Services Committee, R-TX.

Thanks to hard work and leadership in both the House and the Senate, this pro-growth, bipartisan package will provide much-needed regulatory relief to Main Street banks and credit unions,” the Texas Republican told MHProNews.

This bill takes a major step toward allowing the banking system to serve the needs of American businesses and American families instead of working in the interest of Washington bureaucracy,” Hensarling said.“I look forward to continuing to work with my colleagues on both sides of the aisle and in both chambers to build on the progress we achieved here with an additional package of bipartisan pro-growth capital formation provisions to unleash the full potential of our economy.”

While a national manufactured housing association is trying to crow about this somehow being their success, long-time, careful MHProNews readers know that the Manufactured Housing Institute declined a deal like this by agreement with the non-profit groups, during the Obama years. If this was a good deal now, why wasn’t it a good deal then?  See related reports, linked below, for more.

Based upon her own campaign pledges, this deal to pass S 2155 would not have happened under a Madam Clinton Administration. The Trump Administration, those in Congress who voted yea, plus those who supported them are the ones who deserve the credit.

Again, as a reminder, the Manufactured Housing Institute had two paid pro-Clinton speakers on their stage in Chicago just days before the 2016 election. Why don’t they mention that in their message to member?

MHI’s most powerful members are part of Warren Buffett led Berkshire Hathaway.  They never thought that Donald Trump would win, they never saw the roll back to Dodd-Frank elements signed into law this week coming.

An industry member called just minutes ago, laughlingly said thanks for the “telling the truth,” and spoke about Tennessee “mountain men,” who stick up for each other.  He used a HatfieldMcCoy feud analogy.  He explained that the industry is in a blood feud, a fight to the finish. Smiling faces should not be confused with reality.  That’s why industry members have left MHI, and some are formalizing a new trade association.  More on that in the related resources, linked below.

They arguably have no victory lap to take in Arlington, Knoxville, or Omaha. If they want to debate that publicly on video, they should let our publisher know.  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

(Third party images, content are provided under fair use guidelines.)

Related Reports:

‘Tip of Iceberg’ – Rick Rand; Marty Lavin, Communities have ‘No Confidence’ in Manufactured Housing Institute, New National Trade Group Announced

Clayton Homes, Top 25 Manufactured Housing Industry Report, Trend Lines

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Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 


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