WE HAVE JUST CREATED ANOTHER MONSTER WITH THE PASSAGE OF THE FINANCIAL REFORM BILL. AT THIS TIME NO ONE REALLY KNOWS WHAT'S IN THIS MONSTROSITY, BUT WITH THE PRIMARY ARCHITECTS BEING BARNEY FRANK AND CHRIS DODD THERE IS LITTLE DOUBT THAT THIS 2000+ PAGE DOCUMENT WILL NOT BE GOOD FOR BUSINESS, AS THAT'S NOT THEIR FIRST CONCERN. BARNEY AND CHRIS ARE BIG GOVERNMENT BOYS AND THINK ALL THE SOLUTIONS TO THE NATIONS PROBLEMS LIE THERE. SO THEIR GRAND WORK WILL REFLECT THAT PHILOSOPHY.
4 comments:
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charles
It's another monstrosity that will kill jobs. The full scope remains to be seen. That of course, will make more people reliant on government.
I must say the Republican opposition really let us down on this bill. They fought valiantly against health care, but did little to stop this. I think this bill will end up doing just as much damage.
Apparently, there are quotas buried in the Bank Reform Bill:
Buried deep in the bowels of the massive financial-regulation bill the Senate passed Thursday are massive race- and gender-employment provisions that will cost countless millions to enforce and appear to duplicate other civil-rights initiatives already in place.
More importantly, all private financial institutions doing business with the federal government will be affected by them....
Read the rest at the above link.
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