Don’t Bank on this Financial Reform Monster Bill with 7+ New Agencies!
Posted June 26, 2010on:
The Combined Financial Reform Bill is now ready and going back to the House and Senate for final approval. It is a monster designed to allow the federal government to take over the entire financial system which includes your credit cards and check book. You really need to read these articles yourself to get an idea of what we are in for because sure as Hell is on fire we are going to get slaughtered again. This bill they say is designed to insure that there will never be another financial crisis, but in reality the bill insures that there will be another! I guess the line highlighted below from one paragraph in the article says it all. BB
But the bill that Congress has produced, which President Obama is eager to sign, did not include any of these measures. Instead, it doubled down on an approach to regulation that has failed in the past and added a number of extraneous provisions besides — such as new price controls on debit-card fees — because the Democrats “never let a serious crisis go to waste.” We’re very glad that negotiators named this bill the Dodd-Frank Act. When the next crisis hits, it will be much easier to hold these men accountable.