This is the Cato Daily Podcast for Wednesday, July 24th, 2013. I'm Caleb Brown.

The Dodd-Frank Financial Reform Bill is coming into clearer focus and the powers it has given to largely unaccountable political appointees is breathtaking.

Representative Scott Garrett spoke at the Cato Institute's conference on Dodd-Frank, held Monday.

So if you know my record, and the fact that I'm here I guess some of you do, I voted against

Dodd-Frank because it failed to address one of the most fundamental causes

of the financial crisis and one which we are now looking at last week in committee hearing. I appreciate Mark attending that for an all-day

event and which we'll be doing marking up later on. But it continued though to allow for government intervention into the private sector and

continue with the institution of policies that are basically killing jobs.

But there is another, what do you want to say, more fundamental reason why I oppose Dodd-Frank.

And I think surprisingly, well the reason for that is one of the main reasons why I went to Congress in the first place back in O2, which was, and why I later started the Constitution Caucus is because Dodd-Frank is fundamentally unconstitutional.

And there is, as you probably know, a lawsuit that is right now challenging the constitutionality

of Dodd-Frank, and it really I guess

with all the other scandals that are going on around town has gotten surprisingly

little attention by the media or by the folks downtown who pay attention to these things.

And that's why I just want to talk about that a little bit today.

When you talk about the Constitution and the founding fathers, one of the philosophical

foundations of our Constitution is what?

It's the protection of individual rights, individual liberty, and to do so how, through a limited

government.

And as a result, our Constitution establishes,

as it does, a government that is supposed

to be based upon restraint.

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