Financial Reform - Social Justice on Steroids

TheOptionTrader.com ^ | July 25, 2010

[GretchenB]

Whenever the legislation includes the following, you know we’re in trouble: “communities”, "low-income, minority, or underserved”, “fair lending”. And that is what this legislation is all about. They will train the ‘less fortunate’ to be financially literate so after they get all the money from the workers of America they will know how to invest it.

It has been another eye-opener to see just how far this country has progressed toward socialism and the Obama dream. Granted, there have been many laws on the books that did bits and pieces of the new legislation, but as the Progressives get more emboldened they seem to be more forthright with their takeover. We were surprised to see the involvement of the Federal Reserve in the implementation of the Community Reinvestment Act, but it pales in comparison to the new Consumer Protection Bureau. It does nothing more than promote institutionalized mediocrity.

There can be no argument that this bill is all about the redistribution of wealth, as the responsible will be, once again, paying for all the failed loans and all the other costs involved in the law. The minorities may get free stuff, but the costs will be passed on to those who pay their bills. The question is, why are there so many hidden welfare costs? The public is up in arms about the deficit — if they had a clue about how much money is actually poured down the rat-hole that they call welfare, there would be a war. There are government grants for just about everything.

This law is clearly for everyone but white males. Is that constitutional?

[Jim Robinson]

Obama’s Financial Reform = Social Justice on Steroids = Communism.

[sauropod]

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