Senator Dodd’s Regulation Plan: 14 Fatal Flaws

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

  1. WillowTree
    Offline

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    68,097
    Thanks Received:
    10,151
    Trophy Points:
    2,030
    Ratings:
    +14,637
    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?
     
    • Thank You! Thank You! x 1
  2. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    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
    Offline

    boedicca Uppity Water Nymph Supporting Member

    Joined:
    Feb 12, 2007
    Messages:
    41,758
    Thanks Received:
    12,761
    Trophy Points:
    2,250
    Location:
    The Land of Funk
    Ratings:
    +22,699
    Only 14?

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

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,150
    Thanks Received:
    14,897
    Trophy Points:
    2,210
    Ratings:
    +36,855
    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
     
    • Thank You! Thank You! x 2
  5. Meister
    Offline

    Meister VIP Member Supporting Member

    Joined:
    Jan 15, 2009
    Messages:
    25,900
    Thanks Received:
    8,099
    Trophy Points:
    63
    Location:
    Conservative part of the Northwest
    Ratings:
    +8,100
    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.
     
    • Thank You! Thank You! x 1
  6. CrusaderFrank
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,150
    Thanks Received:
    14,897
    Trophy Points:
    2,210
    Ratings:
    +36,855
    This is like Jack Abramoff sponsoring an anti Lobbying Bill
     
  7. boedicca
    Offline

    boedicca Uppity Water Nymph Supporting Member

    Joined:
    Feb 12, 2007
    Messages:
    41,758
    Thanks Received:
    12,761
    Trophy Points:
    2,250
    Location:
    The Land of Funk
    Ratings:
    +22,699
    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
    Offline

    Meister VIP Member Supporting Member

    Joined:
    Jan 15, 2009
    Messages:
    25,900
    Thanks Received:
    8,099
    Trophy Points:
    63
    Location:
    Conservative part of the Northwest
    Ratings:
    +8,100
    Very true.
    I can't stand Dodd, and he helped get us into this mess, along with Chris Cox, and Bawney Fwanks.
     
    • Thank You! Thank You! x 1
  9. WillowTree
    Offline

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    68,097
    Thanks Received:
    10,151
    Trophy Points:
    2,030
    Ratings:
    +14,637
    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
    Offline

    jeffrockit Senior Member

    Joined:
    Nov 16, 2008
    Messages:
    1,341
    Thanks Received:
    165
    Trophy Points:
    48
    Ratings:
    +165
    Right on! The fact that this corrupt individual is still making policy is sickening but not surprising for this administration.
     

Share This Page