100% of "Obama-Reform" 100% NOT Actual Reform
Back when you were a child and young adult, didn’t the noun, “reform” when talking about government and laws mean “improvement,” “removing corruption,” or perhaps a “change in policy aimed at improving or removing corruption?” When exactly did it come to mean, “moving closer to socialism and total control by the federal government?’
The country is stagnating beneath hideous new laws that give us greater socialism under the “reform” banner of Obamacare; takeover of the student loan program; etc. while President Obama is putting comprehensive immigration “reform” forth as the next great crisis that can only be solved by giving him more power. The amnesty he wants is expected to give him 85% of the estimated 12-20 million new voters created by this “reform.” And tonight in Washington, the House of Representatives will vote on “Financial Regulatory Reform.”
Anyone with a conscience and integrity must vote “NO,” but expect roughly 95% of the Democrats in the house to support one more travesty. By taking control of the American financial industry without actually reforming the sector that actually DOES NEED REFORMING (Freddie Mac and Fannie Mae and the four mortgage guarantee laws passed between 1977 and 1998), Obama will make the world safe for Communism but certainly NOT for the American Republic.
The bill represents a huge lost opportunity, according to Tennessee Representative Marsha Blackburn. A lot went wrong between 1977’s Community Reinvestment Act; and the ’92 law that expanded it to include Fannie and Freddie; the two further expansions in ’95 and ’98 and the incredible abuse by ACORN of the incredibly irresponsible notion of forcing lenders to make bad loans to people without I.D., without jobs, with abysmal credit ratings, to people without even rental references or rental addresses, and even to illegal aliens. That is the single greatest and most important cause of the recent financial collapse and no one seems to want to talk about it. Those laws are still on the books. That REFORM would be valuable and help the nation survive, that reform will not occur under this disgusting law. Blackburn opposes all laws aimed at crippling the economy to the benefit of a bigger Washington.
We could have had a bi-partisan bill protecting the nation’s economy. Instead we’re given a monstrous truckload of ill-conceived new regulations, one more new bailout fund, and a whole set of new bureaucracies in this bill; none of which are likely to address the root causes of the financial crisis or prevent the next one. For example, as mentioned above, the bill doesn't address Fannie Mae or Freddie Mac. The bi-partisanship will occur among those who oppose the bill virtually all Republicans and a good twenty conscientious Democrats.
The new law also makes it much harder for community banks to compete according to Marsha Blackburn. These community banks, which have far fewer resources than the big New York firms, will have to comply with the same regulatory and reporting requirements. They won't, however, have the benefit of a permanent bailout fund to use as a hedge against risky and potentially profitable moves. This is the second greatest problem with this stupid law . . . . locking-in the concept of “too big to fail” which encourages risky behavior that can payoff big but (because we’re “too big to fail”) has NO DOWNSIDE. Once more Barack Obama has had a chance to be a real leader and really help the country and opted instead for ideological nonsense that takes the country in the absolute wrong direction.
The new bill, should it become law absolutely guarantees more and more dangerous financial Armageddons for the country. The mainstream media accuses the TEA Party of claiming that Barack Obama is the “Anti-Christ” . . . Wow! Rajjpuut hates to see the Anti-Christ’s name get taken in vain like that.
Ya’all live long, strong and ornery,
Rajjpuut