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| Name: |
water_watcher
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| Subject: |
New Financial Regulation Bill
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Date:
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7/15/2010 4:47:32 PM
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Another sweeping government power grab that gives government to bail out who they want (even non financial businesses) for the good of the economy, but only if they decide it is right. But nothing that fixes what caused the mess ... CRA and people borrowing money to meet government quota's without having the financial resources to afford the loan. They would not even put a 5% minimum requirement that republicans wanted.
It also makes Fannie and Freddie exempt from the regulation, but puts huge burdens on private banks ... and especially hurts small community banks that will not be able to afford to keep up with the additional regulation and making them less competitive against large banks. So it gives more power to the big guys ... hmmmm
The original financial regulation bill was "17 pages long" and worked well for over 60 years until the government forced the expansion of the Community Reinvestment Act and a "few" on wall street got creative and how to meet the demands of the crook at Freddie Mac so he could get huge bonuses.
So now the new bill takes over 2,000 pages of new regulations to fix what a few did, but was really started by government mandates and influence in the first place.
I have never been so ashamed of the government and the distruction of this great country in my whole life.
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| Name: |
realfast64
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| Subject: |
New Financial Regulation Bill
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Date:
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7/15/2010 7:28:48 PM
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well said!!
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| Name: |
MartiniMan
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| Subject: |
Me either
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Date:
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7/15/2010 7:31:27 PM
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WW, I am approaching being distraught with the intentional damage being caused by our government. Even European nations recognize we are on a path of destruction. What is ultimately the saddest aspect is that the productive class will be OK and those the left claim to want to help will be decimated. When will they learn?
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| Name: |
lotowner
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| Subject: |
Me either
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Date:
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7/15/2010 8:25:38 PM
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None of these Legislative Acts by Congress are accidental. They are deliberate with an intent to totally change the DNA of this country. I still encourage the readers of this forum to study what happened in Venezuela with Hugo Chavez. Venezuela did not change into a country with a Dictator overnight. It took over ten years.
Venezuelans voted for Change. Change they achieved with a total loss of personal liberty.
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| Name: |
John boy
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| Subject: |
Me either
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Date:
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7/16/2010 7:07:29 AM
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I am worried that Obozo will claim that the government ownes these forclosed homes because they were FHA backed loans the they could change them to Section 8 housing and basically give them to the "entitled ones". Could this happen? ?
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| Name: |
MAJ USA RET
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| Subject: |
How to Undo
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Date:
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7/16/2010 8:52:02 AM
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I'm worried that we cannot undo all of this mess. A Constitutional Convention, despite it's dangers, is beginning to look appealing.
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| Name: |
widgethater
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| Subject: |
New Financial Regulation Bill
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Date:
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7/16/2010 2:05:19 PM
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Hope and Change-- Got what you asked for!
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| Name: |
Yankee06
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| Subject: |
New Financial Regulation Bill
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Date:
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7/17/2010 10:00:18 AM
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-The New Financia Bill is really an unkknown. The few who really know what is in it, and what changes it will eventually lead to, are deep within teh administration. All the clowns we see on TV have very little knowledge about the entire structure or impact of the bill . Much like the health care bill, this financial bill has been in the making for years by serious anti-capitalists in left-wing think tanks and organizations. These people have been installed within the administration and congressional committees and are now putting forward these plans as if written in response to the recent crisis. As you'll remember, the president formed a financial review commission to study what went wrong during the financial crise, and develop solutions/reforms based on those findings. The results of this commission will be provided in teh fall. However, congress/administration has decided nnot to wait for those results and recommendations, but rather put into law the left's socialist/statist plan that has been waiting in the wings for years/decades.
-Venezuela: Democrats in Congress have been taking junkets to Venezuela for years, ...and coming back and telling their constituents and the nation how great the changes there are. This is because most of these congressmen and women are really under-educated idiots, who have constantly listened to leftist, anti-capitalist drival for years. Tracing congressional trips to Venezuela, categorizing these trips by party, and then by groups and caucuses within parties would be a very revealing study.
-Finally, who gets hurt by all this? Everybody. History shows that it is not the poor as a class that gets hurt the most by a socialist/statist/communist government. It is teh producing class that gets hurt the most. The type of government that present progressives want is not really socialist or communist, it is statist. In socialist and communist governments, property is owned by teh state (socialism: state owns means of production; communism: state owns all property).
But under the type government our progressives are forming, the state will not own all means of production or property, rather it will "regulate" it. These new progressives are smart enough to know that they can not be "producers." 20th century history shows that whenever leftists or statists take control of a country and its means of producing wealth, the country goes into the tank. But our new statists want the producers to stay in place, ...but work within the regulations that have been set up to support teh leftist agenda. This setup will lengthen the time a country takes to go into the tank. More regulators will control more things, and "producers" will have to develop more "regulatory" inclinations and mind sets, i.e., think more like regulators than producers, and down the slippery slop we all will slide. This how it works, there is noway around it; it is human nature. The process of survival of teh fitist will continue to rule, only now the fitist will be those who make, understand, and abide by and within regulations. those that can't do this will eventually perish. Those with regulatory minds and guts will rise to the top through this Darwinian process. Real producers/innovators/achivers will not be among them.
-What to do: This group of progressives have to be voted out by large margins NOW, and then a new congress has to repeal these laws. It will be a major task, ..an unpopular task, ...and ultimately, ...possibly an undoable task.
-If it becomes legislatively undoable, then the producing class most likely will have to chose between revolt or submission. For all those who think this is out-of-the-mind thinking, it is not. Look to your history books, ..almost evry country has gone through this process several to many times. We have gone through it twice, ..the question is, will we have to go through it again?
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