Another Bail Out Disguised as “Financial Reform”

One of the biggest misconceptions the public has is that Wall Street is for Republicans and they are in bed together. This despite the fact that Wall Street firms regularly donate $4 million to Democrats and $994,795 to Obama. And why not? Almost a trillion later in TARP slush funds Wall Street seems to be doing great thanks to Bush, Obama and our Democratic Congress and Senate. So why would anyone be surprised Chris Dodd was proposing to further rip off the public and enriched his clients on Wall Street?

Corrupt Bastard Chris Dodd wants to extort more $$$$ from the American Public

What the bill does is add new restrictions on credit. That means it will drive up the cost of money and that means more profits for the banking community.

Look at Dodd’s credit card bill that has been law for a year. Costs have increased and credit availability has decreased with the bill. A great deal if you are a banker and not so great if you are a consumer. The American public just gets pummeled time after time because they have no business or economic education to filter out the bull crap coming out of Washington. Just label it “Financial Reform” and the dolts with a “D” next to their name line up to support it.

The Dodd proposal would increase regulatory cost of compliance and increase litigation cost. Got to throw the lawyers a bone right Dodd? Does any of this sound familiar? Buy off the special interest, restrict competition, and stick it to the people. The public buy this crap time after time. Democrats, Republicans each have their clientèle and each are con artist ripping off America.

The new restrictions would narrow the market for credit and marginal customers would be locked out of the market. People who may want to start a new business would not be able to get financing even if they wanted to run up their credit cards. But the lawyers and bankers can look forward to higher profits from the remaining customers. How convenient. How evil.

George Mason University Professor Joshua Wright estimates that the Dodd bill’s credit restrictions would reduce job creation by 4.3 percent — about 60,000 fewer jobs every year.

Same crap different day. Where is the new regulation of Fannie Mae and Freddie Mac? If the money goes to Negroes we don’t need none of that fancy regulation do we? Washington sticking to the people, killing jobs, redistributing the wealth, enriching lawyers and bankers. So what’s new Dodd? Time for your ass to hit the road. Let’s pray Peter Schiff gets elected to replace the corrupt son of a bitch.