Democrat-Socialists in the Senate aided by RINO’S Scott Brown, R-MA together with Olympia Snowe and Susan Collins both from Maine, today passed the 2,319 page Obama’s Sweeping Financial Reform legislation with far reaching hands not just into Banks but attaches new regulations on Mine Operators and their subsidiaries operating mines, setting up 20 new offices that mandates new gender and racial quotas to addressing the Sense of Congress relating to the Democratic Republic of Congo who knows what these have to do with financial regulatory reform?
“Nowhere in the final bill will you see even a pretense of rolling back the endless federal incentives and mandates to extend credit, particularly mortgages to those who can not afford to pay them back. After all, the popular narrative insists that Wall Street Fat Cats must be to blame for the credit crisis, despite the recognition that mortgages were offered to unqualified individuals and families—banks will still be required to under the Dodd-Frank Wall Street Reform and Consumer Protection Act to meet government imposed lending quotas” according to Mark A. Calabria, Director of Financial Regulations Studies at the Cato Institute
Democrat-Socialists leave to chance that Bureaucrats are somehow uniquely qualified to make decisions when it comes to levels of compensation of bank executives, the types of proprietary investments that banks may pursue to determining when a firm is too big to fail.
President Obama and his Socialist allies, specifically were granted authority to seize control and liquidate banks and other institutions under provisions of the Dodd-Frank bill.
How will the Dodd-Frank bill stabilize the financial markets? It is much more likely the Obama Financial Overhaul Legislation will strangle an already struggling, fragile economy teetering on a path to a double-dip recession with new government regulations and Congressional mandates in this latest Democrat-Socialist power grab now 110 days out until the mid-term elections.
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