I don’t have time to go into the financial reform bill that was passed by the Senate yesterday, so I just wanted to weigh in briefly with my opinion of the latest Obama Outrage.
This bill is 2,300 pages long and I assume that the same diligence was pursued by Members of both Houses of Congress as was pursued when they were crafting the monstrous Health Care “Reform” Bill that was somewhere between 2,300 and 2,700 pages long….in other words, I assume no one read this bill either.
The bill is nothing more than the “shell” in which multiple new bureaus will be housed. These new government flunkies will have sweeping new powers to further hamstring our financial system. I do recognize that problems existed in our financial system, but adding many new layers of government is not the answer.
Keep in mind that most of the problems we witnessed in the Meltdown of ’08 were the result of the failure of regulators to recognize the excesses and to properly police the system using existing legislation.
As with All Things Obama, the knee-jerk reaction to any problem is 5 or 6 new bureaus, 15-20 new czars, a $ Trillion in new spending, a round of golf, a White House concert that blows another $ million, two staged townhall meetings and then cap all that off with another vacation.
So, is this a great country, or what?
~~John Cronin~~
