Senator Dodd’s Regulation Plan: 14 Fatal Flaws

Discussion in 'Congress' started by WillowTree, Apr 22, 2010.

  1. WillowTree
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    WillowTree Diamond Member

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    The Senate is expected to take up a proposal, originally authored by Senator Chris Dodd (D–CT), to reform the financial regulatory system in the U.S. The goal is clear: to minimize the chances that another financial crisis—and bailouts—will arise again.

    The objective is a good one. Unfortunately, the 1,408-page bill includes numerous provisions that would hurt—not help—consumers and the economy. It would even make another financial crisis or bailout more likely to occur.

    Fourteen Flaws



    Senator Dodd?s Financial Regulation Plan: 14 Fatal Flaws | The Heritage Foundation







    who in great fuck thought christopher doodd should be the one to write the financial reform bill? must have been a libtard huh?
     
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  2. uscitizen
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    uscitizen Senior Member

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    I personally think the heritage foundation has it head up its ass.

    However I agree with some of what they say.
    This bill does seem to create a bailout branch of the govt and give the too big to fail ones protected status.

    Of course I ma basing this on the heritage foundations analysis of the bill which could be skewed all to hell.
     
  3. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Only 14?

    In 1,400 plus pages, there have got to be more problems than that.
     
  4. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Fatal Flaw #1: Having a financial bill sponsored by Chris "CountryWide claimed me as a deduction on their tax return" Dodd is like making Jesse "Hymetown" Jackson the US Ambassador to Israel
     
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  5. Meister
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    Meister Platinum Member Supporting Member

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    I thought that #14 was the most telling flaw of all. Not addressing Freddie and Fannie, is criminal. But, from a guy who benefited from the subprime mortgage debacle, I expected nothing less.
     
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  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    This is like Jack Abramoff sponsoring an anti Lobbying Bill
     
  7. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    I find the combination of #1, 2 and 11 to be pretty horrifying. They allow the Executive Branch to target any company in any industry as being a systemic failure - with the government able to seize control and assets without any due process.

    It's a Banana Republic for Dummies bill.
     
  8. Meister
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    Meister Platinum Member Supporting Member

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    Very true.
    I can't stand Dodd, and he helped get us into this mess, along with Chris Cox, and Bawney Fwanks.
     
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  9. WillowTree
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    WillowTree Diamond Member

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    Number nynne...







    Enriches trial lawyers by authorizing consumer regulators to ban arbitration agreements. Section 1028 specifically authorizes the new consumer regulatory agency to ban arbitration agreements between consumers and financial firms. By reducing the use of streamlined dispute resolution procedures, more consumers and businesses would be forced to pay the costs of litigation—to the benefit of trial lawyers.
     
  10. jeffrockit
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    jeffrockit Senior Member

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    Right on! The fact that this corrupt individual is still making policy is sickening but not surprising for this administration.
     

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