Saturday, June 26, 2010

Comprehensive Financial Reform - a Big, Fat LIE!

Quoting Doug Ross @ Journal:
“All of the reforms forced down the throats of the American people by Democrats in Congress are helpfully termed ‘comprehensive’. Consider the terminology, casually tossed about while ignoring the fundamental failure of every, large-scale federal program in history: ‘Comprehensive Immigration Reform’... ‘Comprehensive Health Care Reform"... ‘Comprehensive Financial Reform’...

Of the latter, 2,000-plus pages are devoted to revamping the entire financial ‘sector’. The result is an orgy of central planning, authoritarian controls, and Democrat skulduggery that Nikita Krushchev would love --- and James Madison would despise.

As for the effectiveness of the reforms: the Democrats have completely ignored Fannie Mae and Freddie Mac (the GSEs), which were the lynch-pins of the 2008 economic meltdown. The reasons are many:”
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