Deregulation: Former FBI director James Comey‘s testimony before the Senate Intelligence Committee was the fixation of Washington on Thursday. But the big story was on the House side of Congress, which passed a bill to repeal the ruinous Dodd-Frank banking law.
The Financial Choice Act, approved in the House by a 233-to-186 vote (no Democrats voted for the bill), has generated almost zero attention. But it has the potential to be the most economically beneficial legislation Congress will consider this year.
Put simply, Dodd-Frank has been a complete failure. Signed into law by President Obama almost seven years ago in the wake of the financial crisis, this massive law was supposed to, in his words, “be good for the economy … foster innovation … stop taxpayer bailouts once and for all.”
It has lived up to zero of those promises.
Dodd-Frank’s 22,000 pages of regulations, which cost $36 billion to comply with in the first six years, has choked competition in the banking industry, made banking more expensive, harmed economic growth and, to top it off, failed to make the banking system safer or end “too-big-to-fail.”
Since Dodd-Frank became law, for example, more than 1,700 banks have disappeared — more than one a day, on average. The banking industry got more concentrated.
So far, his story is shaping up as the now-customary list of jihadist clichés.
America just suffered our worst terrorist attack since 9/11. We need to start talking honestly about the enemy that keeps butchering Americans.
writes: Tonight we burn illusions. A terrorist attack on a popular gay club in Orlando, Florida in the middle of the night ended before the dawn with the violent deaths of at least 50 innocents and the maiming of 53 more. This was the bloodiest terrorist attack on America since 9/11. The Pulse nightclub, something of an icon in Florida LGBT circles, was transformed into a charnel house.
“While all Islamists view gays and lesbians with a distaste that veers easily into violence, ISIS kills them so routinely – pushing them off buildings before the cameras, for instance – that it scarcely attracts attention any longer. Nobody should be shocked that a murderer swearing allegiance to ISIS makes gays his target – particularly during Ramadan, when the group has exhorted its followers to make war on infidels with enhanced intensity.”
The United States had been lucky, having avoided truly mass casualty terrorist incidents since that awful day 15 years ago, through a combination of luck, inept enemies, and excellent intelligence work. But the Orlando horror demonstrates that attacks on soft targets in public places can cause huge numbers of casualties, here as well as in Europe, like last November’s assaults on Paris that killed 130 people, 89 of them at the Bataclan theater, where a hostage situation resulted in a bloodbath. Something similar has just happened in Florida.
His statement that his son was triggered by seeing two men kissing in public seems unlikely to endear the family to the American public.
“Within hours of the massacre, progressives and jihad apologists were insisting that the Orlando attack was ‘really’ about guns – and certainly not about Islamism or jihadism. The Pulse massacre was about guns the way that the 9/11 attacks were ‘really’ about box cutters and the 2013 Boston bombing was ‘really’ about pressure cookers.”
While the Paris attacks were the work of nine terrorists, plus several others providing logistical support, so far only one killer has been identified in the Orlando atrocity. While there are reports of other shooters, these remain unconfirmed, and the sole terrorist definitely involved was Omar Mateen, born in this country in 1986 to immigrant parents from Afghanistan. He was killed by police at the end of the nightmare he inflicted on Orlando.
So far, his story is shaping up as the now-customary list of jihadist clichés. The 29-year-old went from a relatively normal American life towards extremism, winding up on the radar of the FBI more than once for his aggressive beliefs. A brief marriage failed, in part because he frequently beat his wife, she claims, asserting that Mateen “was not a stable person.” A trauma like divorce leading to an embrace of jihadism is as common as can be in extremist circles.
The killer’s family has claimed that their son’s terrible act had “nothing to do with religion” – again, following the script we have come to expect whenever a young person, usually male, brutally murders strangers in the name of Islam. While Omar Mateen’s father claims to be utterly mystified by his son’s actions, that assertion should be examined closely, since Seddique Mateen has publicly praised the Taliban in his home country – the very people the American military has been fighting since late 2001. In a truly bizarre twist, Mateen Senior claims to be the real president of Afghanistan. His statement that his son was triggered by seeing two men kissing in public seems unlikely to endear the family to the American public.
Wasting no time, the Islamic State has claimed responsibility for the attack on the Pulse nightclub. This should not surprise, since Mr. Mateen is reported to have declared allegiance to ISIS just before starting his rampage, and that group boasts of its pathological hatred of homosexuals. While all Islamists view gays and lesbians with a distaste that veers easily into violence, ISIS kills them so routinely – pushing them off buildings before the cameras, for instance – that it scarcely attracts attention any longer. Nobody should be shocked that a murderer swearing allegiance to ISIS makes gays his target – particularly during Ramadan, when the group has exhorted its followers to make war on infidels with enhanced intensity.
“There’s also a disturbing question about how Mr. Mateen managed to keep working as a security guard despite having been twice investigated by the FBI.”
Whether Mr. Mateen had any bona fide contacts with the Islamic State is another question, one that investigators will want to answer properly. Since he was known to the FBI, it seems likely that U.S. intelligence had questions about that too. Regardless, since the Islamic State has commanded jihadist wannabes worldwide to take action by themselves, without any direct orders from the group, it’s quite possible that this killer was simply doing what he thought ISIS would want him to do in their name. Read the rest of this entry »