Rep. Michele Bachmann (R-Minn.) introduced legislation Wednesday that would repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill, which President Obama signed into law in July, represents the most extensive overhaul of financial regulations since the Great Depression. Bachmann says the law grossly expanded the federal government beyond its jurisdictional boundaries. Bachmann also complains the law does nothing to address the insolvency of Fannie Mae and Freddie Mac and that it is unconstitutional. House Republicans assumed control of the chamber yesterday, with Speaker John Boehner of Ohio taking the gavel from Nancy Pelosi.