FINANCE BILL–ANOTHER GOVERNMENT POWER-GRAB

FINANCE BILL–ANOTHER GOVERNMENT POWER-GRAB

The “Dodd-Frank” Bill, or the “Frank-Dodd” Bill will likely clear Congress in a day or so. As it now stands, with the RINO votes in favor coming from the two Maine Senators, passage seems assured. There was some doubt how Scot Brown would vote but the last word is that he will oppose. This is another gargantuan 2,000 plus pager, of course. This is another gargantuan government power-grab disaster, of course.

Their minds melded and that’s the
way it is: Frank is the rumpled one
on the left, adjusting his trousers.

This “Financial Reform” Bill, and I use that term rather loosely, will do far more harm than good. Irony plays center stage in this latest proglib drama. The two men who “crafted” the bill are the same two men who largely brought America to its financial knees by playing fast and lose with big-time financials to begin with. To name this farce after them is the first bit of irony taking a bow. The second irony is that the F&F Twins (Freddie and Fannie) are not even MENTIONED.

Still going strong and swilling at the
American trough.

How deeply involved did the Frank-Dodd duo become in all sorts of other arenas within the bill? Deeply indeed. For starters, the bill caters to the long standing agendas of labor unions and Democrat interest groups. With this bill, unions, environmental groups, and activist organizations that hold any kind of shares will now be required to be represented on the corporate boards. Obviously, this is opposed by the Business Roundtable and the US Chamber of Commerce, as well it should be. This provision has nothing whatsoever to do with any form of financial crisis. What it will do is disrupt corporate board meetings and decisions along political agenda lines. Bottom line? Profit? What is all that??

The Prez working on final details perhaps? May take
him quite some time, judging by that stack.

Get this. This bill will create more than twenty “Offices of Minority and Women Inclusion” at the Treasury and other government agencies to ensure they employ more minorities and more women as well as grant many more federal contracts to additional women and minority owned businesses. These agencies also will be applying what the proglibs are calling “fair employment tests” to the banks and other financial institutions they regulate. What in the world does that have anything to do with financial crisis??

Guess these will be NEW jobs, not SAVED jobs.

Hold on. It just gets worse, no way better. The center-piece for this 2,400 page piece of trash will be (drum roll, please) a brand new CONSUMER PROTECTION AGENCY!! This powerful new agency will provide substantial employment opportunities and funding for Democrat and social-activist groups. Can you say ACORN, among others? Instead of focusing on abuses in the mortgage lending market that led to the crisis, this new agency will have broad ranging powers to regulate and punish virtually any company that has a financial relationship with consumers, notwithstanding they had zilch to do with the financial crisis.

What, me worry??

Looks to me that Obama and his soon to be out of work friends are trying to inject a bit more “Social Justice,” this time in the financial system. Obama continues to believe that Americans are inherently stupid. He believes this is why we absolutely need this exponential expansion of government. Consequently, he is ordering up this “enlightened” way of living. Anyone who disagrees with him is to be pitied for their “lack of insight” or held in contempt for their “obvious intellectual shortcomings.”