Time to dismantel US Government

Discussion in 'Current Events' started by Mr.Fitnah, Nov 23, 2009.

  1. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    Or at least the Obama DNC administration.
    Im sure this was conceived somehow under the Bush administration and Glenn Beck is for it before he was against it. or what ever the latest left wing deflections are currently en vougue .


    Some how it looks like projection here

    "firms that are so big, interconnected and leveraged that they could harm the U.S. economy, even if they are healthy."
    That sounds like the government .

    Panel gives US Govt right to dismantle big financial firms

    WASHINGTON: A House committee voted Wednesday to give the government the right to dismantle financial firms that are so big, interconnected and leveraged that they could harm the U.S. economy, even if they are healthy.

    Voting along party lines, the House Financial Services Committee modified a sweeping financial regulation bill to give broad new power to a proposed Financial Services Oversight Council that would monitor risk across the financial system.

    The provision, proposed by Rep. Paul Kanjorski, a Democrt, was staunchly opposed by Wall Street because it would let the government break apart firms even if they were sound and well-capitalized.

    "No firm should be considered to be too big to fail,"' Kanjorski said in a statement.

    "Financial firms that want to play in a casino need to have their own resources to cover their bets and not assume that tax dollars are available in reserve if their bets fail."

    The amendment approved Wednesday says the government could intervene when a firm presents a "grave threat" to the financial system - a higher bar than what many large financial institutions thought Kanjorski would set.

    The legislation also would take into account a number of factors for breaking up a firm.

    In addition to size, the council would also have to consider the "scope, scale, exposure, leverage, interconnectedness of financial activities."

    "This is more moderate than other approaches out there, but we still oppose it," said Scott Talbott, a senior lobbyist for the Financial Services Roundtable, which represents institutions that could be affected by the legislation.

    Critics have argued that the legislation would effectively force financial institutions to scale back their size and place them at an international disadvantage.

    Kanjorski said he would coordinate with the European Union to ensure that does not happen. - AP

    Panel gives US Govt right to dismantle big financial firms
     
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  2. brewerboy
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    brewerboy Active Member

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    "We dont want any competition now!"
     
  3. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Lets dismantle the Government and we can all go back to living in caves
     
  4. Single Dad
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    Single Dad Member

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    Did you live in a cave prior to the Obama Socialist Administration? I didn't.
     
  5. Nosmo King
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    Nosmo King Gold Member

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    Why is dismantling the government the title of this thread when the topic is dismantling harmful aspects of Capitalism? Anti-trust legislation becomes dismantling the government? Regulation as opposed to deregulation is dismantling the government?

    The government is supposed to serve the people. When the people are harmed by unscrupulous business, isn't it the right and responsibility of the government to act accordingly?

    Are consumer protection regulations an affront to our government? Environmental, workplace safety and labor laws are all in place to protect us, the neighbors of business and the workers from acts of those businesses which cause harm and death. Is it the state's position that business can do no harm and should be ignored by regulations?

    Why is "government" equated to "business"?
     
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  6. California Girl
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    California Girl BANNED

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    Nor did I but there's nothing like a little scaremongering from the whiny left! :lol:

    I kind of agree with the 'Let's dismantle the Government' bit though! :lol::lol: Perhaps not 'dismantle' but let's shrink it. Let's slash the federal government back to what it should be and hand the rest of the responsibility back to the individual states.
     
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  7. Mr.Fitnah
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    Mr.Fitnah Dreamcrusher

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    Nah ,lets just keep growing the government until we are living in refugee tent cities standing in bread lines
     
  8. dilloduck
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    dilloduck Diamond Member

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    How about some choice amendments that give people back the powers that were intended for them ?
     
  9. concept
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    concept Evil Mongering

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    You mean a bunch of liberal moonbatocrats voted to give themselves even more power?

    Say it ain't so Joe..
     
  10. slackjawed
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    slackjawed Self deported

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    Let's repeal the 17th amendment and RESTORE the US government to what it was meant to be.
     
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