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Latest Fact-Checks In Financial Regulation

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American Future Fund
American Future Fund
stated on February 27, 2012 in a television ad:
"Obama’s flush with cash, returning to Wall Street for even more money. … Wall Street sure supports President Obama."
Mostly False
By Amy Sherman • May 24, 2012
Mitt Romney
Mitt Romney
stated on November 28, 2011 in statements to the media:
On the Troubled Asset Relief Program (TARP)
No Flip
By Louis Jacobson • May 18, 2012
Facebook posts
Facebook posts
stated on April 24, 2012 in a Facebook post:
"Bank of America could create 878,300 jobs with benefits if they spent their 2010 bonuses on job creation."
Pants on Fire!
By Louis Jacobson • April 25, 2012
Bill Nelson
Bill Nelson
stated on April 15, 2012 in an op-ed in POLITICO:
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."
Half-True
By Katie Sanders • April 24, 2012
Rick Santorum
Rick Santorum
stated on January 26, 2012 in a Republican presidential debate in Jacksonville, Fla.:
"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."
Mostly False
By Becky Bowers • January 27, 2012
Newt Gingrich
Newt Gingrich
stated on January 23, 2012 in a Republican presidential primary debate:
Newt Gingrich says electric co-ops and credit unions are "government-sponsored enterprises" like Freddie Mac.
Pants on Fire!
By Jon Greenberg, Molly Moorhead • January 24, 2012
Newt Gingrich
Newt Gingrich
stated on December 15, 2011 in a Republican presidential debate in Sioux City, Iowa:
Says Freddie Mac, electric co-ops and credit unions are all "government sponsored" enterprises.
Pants on Fire!
By Jon Greenberg • December 19, 2011
Michael Doherty
Michael Doherty
stated on December 9, 2011 in a news release:
"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."
False
By Bill Wichert • December 19, 2011
Sherrod Brown
Sherrod Brown
stated on December 7, 2011 in a Senate banking subcommittee hearing:
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."
True
By Stephen Koff • December 12, 2011
Newt Gingrich
Newt Gingrich
stated on November 11, 2011 in remarks at Mandester, N.H. campaign headquarters:
"Community banks … are being destroyed by Dodd-Frank."
False
By Jon Greenberg • November 21, 2011
Herman Cain
Herman Cain
stated on October 11, 2011 in a debate:
On auditing the Federal Reserve
Half Flip
By Eric Stirgus • November 18, 2011
Occupy Providence
Occupy Providence
stated on October 19, 2011 in a protest sign:
"Minimum wage = $16,000/year CEO-Goldman Sachs (Lloyd Blankfein) $16,000/Hour."
False
By Lynn Arditi • October 26, 2011
James Langevin
James Langevin
stated on September 21, 2011 in a speech:
"Foster children are disproportionately victims of identity theft."
False
By C. Eugene Emery Jr. • October 20, 2011
Michael Moore
Michael Moore
stated on September 28, 2011 in an interview on "Democracy Now":
"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."
Mostly True
By Angie Drobnic Holan • October 7, 2011
Bernie Sanders
Bernie Sanders
stated on October 4, 2011 in an interview with MSNBC:
"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."
True
By Louis Jacobson • October 6, 2011
Dennis Kucinich
Dennis Kucinich
stated on September 7, 2011 in a television interview:
"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."
True
By Peter Krouse • September 28, 2011
Rick Perry
Rick Perry
stated on September 16, 2011 in answer to questions.:
Says he did not support the October 2008 legislation to rescue Wall Street firms.
Half-True
By W. Gardner Selby • September 21, 2011
Sean Duffy
Sean Duffy
stated on July 20, 2011 in an op-ed piece in the Washington Times:
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."
Mostly False
By Dave Umhoefer • August 22, 2011
Rick Scott
Rick Scott
stated on August 11, 2011 in an interview with Panama City radio station WFLA 94.5:
"Our credit rating went up since I've been in office."
False
By Aaron Sharockman, Becky Bowers • August 17, 2011
Ash Williams
Ash Williams
stated on August 2, 2011 in response to a question from Gov. Rick Scott:
"The (State Board of Administration) transparency issue got a great airing the last legislative session."
False
By Aaron Sharockman • August 2, 2011
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