The president is expected to sign the 2,300 page financial reform bill in a few days. Why do I feel like we're continuously being clubbed over the heads with a billy club despite the public's repeated shouts of outrage.
Admittedly, I know very little about this bill. However, I'm not ashamed to say that because I would be my life that the congressmen voting for this bill know anything about it either. After all it is 2300 pages long and very clearly not written by congress. It CAN'T have been written by them. Most of those people have NO experience in business or investing. It was written by lobbyists and 80% of Americans do not trust that this bill will solve anything. How can you blame them when the CEO of Goldman Sachs supports this bill?! Think about that, the CEO of Goldman Sachs (a company that is supposedly going to be reined in by government by this bill) supports this bill. Sounds great.
And then there's the fact that Barney Frank and Chris Dodd (the nitwits who helped create this crisis with their oversight of Fannie Mae and Freddie Mac) chaired the committee that is bringing us this monstrous legislation. Congress isn't passing a budget this year and we're supposed to trust them to remake the US economy. No thanks brother.
Here's why the economy isn't improving - there's too much uncertainty. Legislation like this and the rhetoric that has proceeded it causes nervousness in the markets. Businesses aren't going to hire when they've got no idea of what kind of "reforms" are coming down the pipe and how those changes are going to affect their bottom line.
This bill will not help because it creates all kinds of new agencies whose rules and regulations aren't even laid out in the bill. No, it's the agencies' newly appointed administrators who get to set the rules. How's that for a representative republic? Individual administrators, not congress, gets to rewrite the rules of business. Until those agencies are firmly established and the rules clearly written businesses will be tentative and anxious which means little hiring and little growth.
The Financial Crisis Inquiry Commission, set up by the government to investigate the causes of the financial crisis, hasn't finished their analysis yet but we've already got the fix? How can you fix something BEFORE an official understanding of what's broken?
It's all political. Rahm Emmanuel's words keep coming back to me - "Never let a crisis go to waste." The economic crisis is being used by this bunch to remake the system in their progressive mold.
Ask yourself this question - do you have faith is this congress to fix the nation's problems? If your answer is yes I would love an explanation because you can't have been paying attention to what they're doing and, more importantly, HOW they're doing it.
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Oh, and I'd like to throw this in - for the first time in our country's history federal tax dollars are being used to fund abortion. Yes, thanks to the federal funding of a new "high risk" insurance pool in Pennsylvania, abortions will now be paid for by tax dollars for those folks who sign up to be covered under that program. So all of those "moderate" democrats who sold out after demanding from the president that no tax dollars would go to fund abortion under the health care bill are, as I suspected, stooges and tools of this administration to get their agenda rammed through.
ReplyDeleteAnd I was also right about the president's executive order which was supposed to prevent funding of abortions. As I said then, and have now been proven correct, that order wasn't worth the paper it was printed on because everybody (except those stoogey moderate dems) knew that executive orders cannot override laws. So there you go fans of health care reform, your support has helped to usher in a new era in the history of abortion in America - the era where your hard-earned dollars are helping to kill America's unborn. Thanks liberals. No, really. I appreciate it.
At what point do liberals begin to wake up and realize that Obama doesn't mean a thing he says.
The man is a liar. There are so many documented, DOCUMENTED, lies that the man has told, I am shocked that anyone trusts him.
ReplyDeleteWhat do you think the percentage is that Obama has even flipped through the bill, much less read it. There used to be a day when a man didn't sign his name to something unless he knew what was in it and agreed with all of it.
It was called integrity or virtue. Those two principals seem to be long gone. How can we bring back chivalry. God bless us.
Well, where to begin. For starters, the notion that Freddie Mac and Fannie Mae caused the financial crisis, is pretty problematic. Generally, the logic goes that the forced lending to people who couldn't afford homes is what caused all the problems. Certainly loans were given out that shouldn't have been. However, the percentages of loans that fall under federal programs designed to help poor and minority demographics get loans are not large enough to have caused the problem. The real problem is that average American's wages are not increasing at the same rate as living expenses, its really that simple.
ReplyDeleteFinancial reform is a no-brainer. Is the current bill perfect? No. However at least it reverses the trend of deregulation that started in the 80's and has continued, even under dems like Clinton, and allowed our banks to become investment firms. The reason Goldman Sachs and others aren't upset is that they have found workarounds for most things.
To claim the uncertainty is all about regulation is an exaggeration at best. The whole economic outlook is uncertain and businesses found that by slashing employess, and lowering wages while increasing hours, they can increase their bottom line despite declining sales. An article in the New York Times today outlines how Harley Davidson is currently following just such a program.
Our economy has massive problems in my opinion. Though I would argue much of it has to do with the mantra of more money for the corporations the more jobs. Unfortunately, that just isn't the case. Trickle down economics failed. Man sectors, like the financial sector, are doing fine, but that has not translated into a proportional increase or stability for the American worker.
Oh and my tax dollars were spent on torture, and unjustified war. I would rather a someone young teenage girl who was raped be able to use federal funds to get an abortion than torture someone who is charged with being a terrorist by his local political rival. Just saying.
Kyle, nice to see your opinion out here buddy!
ReplyDeleteBut, I have a super big issue with your rationalization for abortion. The stats show how abortion is being used. I quote...
"1% of all abortions occur because of rape or incest; 6% of abortions occur because of potential health problems regarding either the mother or child, and 93% of all abortions occur for social reasons (i.e. the child is unwanted or inconvenient)."
http://www.abortionno.org/Resources/fastfacts.html
Politicians have projected this idea that the statistics warrant abortion for the first two reasons. The sickening fact is that abortion is generally used as the most modern form of birth-control.
I would rather my tax dollars fund a young black Mexican who needs to learn to read Arabic for "personal" reasons while engaging in homosexual activity. That is what I want my tax dollars to be used for, if I am ever rich enough to start paying taxes. But I won't be, because the democrats need poor people, and lots of 'em, for their base, so they keep us all down. Little do they know, however, that this poor boy don't vote no democrat. This poor boy has to swallow hard to even vote Republican.
ReplyDeleteI just don't want them to take away my guns. Leave my guns alone, already.
Where is the moderator for this blog? I haven't heard from him for weeks. He goes to Montana and then comes back and leaves us all to wonder when he will ever come again.
"Will he ever come? Will he ever appear? Does the one that I am waiting for know that I am hear."
I'll bet that Michael McLean was a democrat. Anybody that can write a song as denigrating to men as "She Sees a Diamond," has to be a democrat.
"She sees a diamond deep in the rough of my soul. She says I'll see it too someday."
That man who sings that song really needs some therapy. He probably got messed up like that after hearing GA after GA say that women don't have the Priesthood because they are more righteous than men.
Sick song. I hate that song. That man singing that song needs whacked in the groin. Hard.
Why can't I post here anonymously?
Random, but creative. I especially liked the bit about Michael McLean's diamond song. I have to agree wholeheartedly about that. About abortions. I hate them and I think going through a miscarriage abortion was so horrible I can't understand how anyone could go through it just to not disrupt their current lifestyle. I think if you really don't want kids, use birth control. Be responsible. And for victims of sexual abuse, rape, etc... the choice should remain. I think the same argument goes for the economy. Raise taxes and cut programs and get out of debt. It's backward to think we can increase government programs one term and cut taxes the next or even at the same time. Raise taxes. Ask for more local and state responsibility and get it and hold them accountable LOCALLY.
ReplyDeleteRaise taxes and get us out of debt. And everybody listen to Dave Ramsey and get yourselves out of debt.
And while I'm at it. Let's raise taxes a little more to make a really nice community pool with slides and different levels, and waterfalls, etc...
Ehm...the last post came from Henry, by the way, not me (Fran).
ReplyDeleteFran
This post is actually getting interesting now! I am going to personally hand credit to Kyle for that.
ReplyDeleteOh, and Fran & Henry... You could just use your individual sign-ins for making comments on a consistent basis to avoid making posts like the last one necessary. :)
We could Ammon, but that would make things so much less interesting and so much more transparent.
ReplyDeleteHenry or Fran or maybe Sophia... :)
You all stink like dead rabbits marinated in Hollandaise sauce.
ReplyDeleteYours truly,
Troy Cline
Speaking of transparency Fran, you know that great principle that Obama was supposed to bring, get a load of what financial reform has brought us. In speaking of the new law Obama said this would bring more transparency to financial dealings. Oh? Is that so Obama? Then why does a provision in this bill exempt the Securities and Exchange Commission from having to abide by the Freedom of Information Act? That's right. Under the new law the SEC does not have to answer to any public requests for information pertaining to "surveillance, risk assessment, or other regulatory or oversight activities." Since the SEC is a regulatory agency that means it pretty much doesn't have to answer to any request by the public. Real transparent.
ReplyDeleteOh, Montana was great. I want to move into those spectacularly beautiful mountains and forget about the government. But they would find me. Oh, they would find me. They always find you.
In fact, the SEC has already taken advantage of the new law. They've already shut down one request by a press organization for information.
ReplyDeleteJust another example of big brother protecting big brother.
This is what happens when 2000 page bills get passed. As Nancy Pelosi said about health care:
ReplyDelete"We have to pass it so the American people can see what's in it."
Nobody reads this junk. They just vote on it, against the will of the people in most cases. Then, over the course of 2-3 months we start to learn what laws we just passed. We're ruled by tyrants. Tell me how our current situation differs all that drastically from the 1770s?
The difference between now and the 1770's? In my opinion the difference is between struggling against a colonial system that benefits the mother country and fighting against a plutocracy that has seized a lot of control of our governmental system. Related, but not identical.
ReplyDeleteHmmm, a colonial system that benefits the mother country and a plutocracy that benefits the insiders and the wealthy. Related enough to make any minor differences irrelevant. In practice, many of the same problems are arising.
ReplyDeleteSo do you feel the bush tax cuts for upper income brackets should be allowed expire at the end of the year?
ReplyDelete