Teleforum: Is the Administrative State Too Big to Fail?
MetLife v. Financial Stability Oversight Council
MetLife v. Financial Stability Oversight Council
Note from the Editor: The Federalist Society takes no positions on particular legal and public policy matters. Any expressions of opinion are those of the author. We welcome responses to the views presented here. To join the debate, please email us at [email protected].
On March 30, Federal district court Judge Rosemary Collyer struck down the Financial Stability Oversight Council’s designation of MetLife as a systemically important financial institution. MetLife v. Financial Stability Oversight Council has readily apparent implications for financial regulation, and many commentators have suggested that it may even have far-reaching effects on the future of the larger administrative state. Tomorrow at 12:00pm, our expert, Peter Wallison, will discuss the opinion, its outlook on appeal, and its possible impact. Call in and join the conversation!
Read Peter Wallison's Wall Street Journal op-ed Why the MetLife Case Bears Watching Well Beyond Wall Street to catch up on the issue.
48th Vice President of the United States
Michael R. Pence was born in Columbus, Indiana, on June 7, 1959, one of six children born to Edward and Nancy Pence. As a young boy he had a front row seat to the American Dream. After his grandfather immigrated to the United States when he was 17, his family settled in the Midwest. The future Vice President watched his Mom and Dad build everything that matters—a family, a business, and a good name. Sitting at the feet of his mother and his father, who started a successful convenience store business in their small Indiana town, he was raised to believe in the importance of hard work, faith, and family.
Vice President Pence set off for Hanover College, earning his bachelor’s degree in history in 1981. While there, he renewed his Christian faith which remains the driving force in his life. He later attended Indiana University School of Law and met the love of his life, Second Lady Karen Pence.
After graduating, Vice President Pence practiced law, led the Indiana Policy Review Foundation, and began hosting The Mike Pence Show, a syndicated talk radio show and a weekly television public affairs program in Indiana. Along the way he became the proud father to three children, Michael, Charlotte, and Audrey.
Growing up in Indiana, surrounded by good, hardworking Hoosiers, Vice President Pence always knew that he needed to give back to the state and the country that had given him so much. In 2000, he launched a successful bid for his local congressional seat, entering the United States House of Representatives at the age of 40.
The people of East-Central Indiana elected Vice President Pence six times to represent them in Congress. On Capitol Hill he established himself as a champion of limited government, fiscal responsibility, economic development, educational opportunity, and the U.S. Constitution. His colleagues quickly recognized his leadership ability and unanimously elected him to serve as Chairman of the House Republican Study Committee and House Republican Conference Chairman. In this role, the Vice President helped make government smaller and more effective, reduce spending, and return power to state and local governments.
In 2013, Vice President Pence left the nation’s capital when Hoosiers elected him the 50th Governor of Indiana. He brought the same limited government and low tax philosophy to the Indiana Statehouse. As Governor, he enacted the largest income tax cut in Indiana history, lowering individual income tax rates, the business personal property tax, and the corporate income tax in order to strengthen the State’s competitive edge and attract new investment and good-paying jobs. Due to his relentless focus on jobs, the state’s unemployment rate fell by half during his four years in office, and at the end of his term, more Hoosiers were working than at any point in the state’s 200-year history.
As Governor of Indiana, Vice President Pence increased school funding, expanded school choice, and created the first state-funded Pre-K plan in Indiana history. He made career and technical education a priority in every high school. Under Vice President Pence’s leadership, Indiana, known as “The Crossroads of America,” invested more than $800 million in new money for roads and bridges across the state. Despite the record tax cuts and new investments in roads and schools, the state remained fiscally responsible, as the Vice President worked with members of the Indiana General Assembly to pass two honestly balanced budgets that left the state with strong reserves and AAA credit ratings that were the envy of the nation.
It was Indiana’s success story, Vice President Pence’s record of legislative and executive experience, and his strong family values that prompted President Donald Trump to select Mike Pence as his running mate in July 2016. The American people elected President Donald Trump and Vice President Pence on November 8, 2016. President Donald Trump and Vice President Pence entered office on January 20, 2017.
In February 2021, Vice President Mike Pence joined the Heritage Foundation as a distinguished visiting fellow. The Heritage Foundation helped shape Vice President Mike Pence’s conservative philosophy for decades and played a pivotal role advancing conservative policies throughout the Trump Administration. Vice President Pence also joined Young America’s Foundation as the Ronald Reagan Presidential Scholar. Long before Mike Pence became Vice President to President Donald Trump, the vision and leadership of Ronald Reagan inspired his youth.
Vice President Mike Pence remains grateful for the grace of God, the love and support of his family, and the blessings of liberty that are every American’s birthright.
Assistant Director, Practice Groups, The Federalist Society