THE FINANCIAL REFORM BILL

by Anonymous 6:46 AM 0 COMMENTS

A bill that will give the government more power to regulate the private sector? Where do I stand on this?.. Oh I remember! I think it's dangerous. Remember how they pushed healthcare. They used emotion to make people feel bad about all the poor people who could not afford insurance. Now they are using another emotional argument, anger. We are going to make Wall Street and the banks pay for what they did! Let's take a look at why this bill does neither.


The Banks
This bill fails to reign in the real problem bank, the Federal Reserve. Instead it gives the Fed new regulatory powers. We could stop right here and the majority of Americans would have plenty of reason to oppose this thing. The Fed needs to have less power, not more power!

Wall Street
It has so many loopholes that any crook on Wall Street can get around the thing. Its main purpose was supposedly to regulate the derivatives market, but it exempts half the market. It fails to regulate or restructure Fannie and Freddie. It also creates a new protected class, for firms that are to big to fail. We could have a new bailout every week!

This bill is being put together by Chris Dodd and Barney Frank
These guys are in charge of the bill? The same guys that said Fannie and Freddie were safe? Why not just have Paris Hilton, and Nicole Richie do it instead? Oh that's right they would not now know what they are doing! Neither do these guys!

It’s 1,500 pages
Have I read it? No. I refuse to read (in entirety) or support any bill over a thousand pages. I don't care if it's a bill to protect our southern border and cut spending. If you can't do it in less than a thousand pages, something is wrong. The reason they make these bills so large, is so they can hide things in them. They know that you have a life, and do not have time to read all their large bills.