Posted on 06/27/2010 3:15:21 AM PDT by Scanian
President Obama was quick to claim victory at week’s end, after congressional negotiators hammered out a final bill regulating the financial sector, saying it provides “90% of what I proposed.”
But just how the nearly 2,000-page bill will affect New York — which relies upon financial institutions for a major share of its tax base — remains unclear.
After all, as Senate Banking Committee Chairman Chris Dodd admitted: “No one will know until this is actually in place how it works.”
Which is why Rep. Jeb Hensarling (R-Texas) warns of “three unintended consequences on every page of this bill.”
Not exactly reassuring.
(Excerpt) Read more at nypost.com ...
Exactly what we expect from the RAT crooks.
later
Yeah, here we go again. Another multi-thousand page tome being shoved through with zero scrutiny (”...gotta pass it so that we can know what’s in it...”).
The Dem Leftists are taking us down the tubes so damned fast and SO easily it is maddening.
Can this crap be repealed?
Like Obamacare, this piece of cr*p is unconstitutional! Regulating finance is not a enumerated power in Article 1 Section 8 of the Constitution! It’s merely to exert more control over the people. It’s becoming increasingly obvious civil disobedience will be the only way to reverse the marxist trend.
Practically speaking, no. No major piece of financial regulation has ever been repealed, no matter how bad the consequences.
Even if it were, the individual damage to firms can never be compensated for; the overall damage to our financial system as years of this dreck accumulates is inestimable.
It's like the equally stupid gun control: it took years, as enforcement activities gradually increased under the NFA, for the full extent of its damage to be clear, and then with passage of the GCA, our constitutional right to keep and bear arms took an even greater blow.
Which is why Rep. Jeb Hensarling (R-Texas) warns of “three unintended consequences on every page of this bill.”
They aren’t ‘unintended’, Jeb. Why can’t the GOP, even the good ones, get a clue?
“congressional negotiators hammered out a final bill”
“Hammered out”? More like “poured into a mold and allowed to cool”.
In the Tabernacle In The Wilderness, the “candlestick”, actually a lampstand of seven oil lamps, was a foretype of the Messiah, and was of one piece of gold beaten into shape. This is in contrast to a religious person, who is represented by mass-produced products made by pouring liquid into a mold that then hardens.
What’s my point? This bill is like a Chinese knockoff of something worthwhile, and it’s a tool for our tyrannical government to arbitrarily give orders to the rest of us.
“congressional negotiators hammered out a final bill”
“Hammered out”? More like “poured into a mold and allowed to cool”.
In the Tabernacle In The Wilderness, the “candlestick”, actually a lampstand of seven oil lamps, was a foretype of the Messiah, and was of one piece of gold beaten into shape. This is in contrast to a religious person, who is represented by mass-produced products made by pouring liquid into a mold that then hardens.
What’s my point? This bill is like a Chinese knockoff of something worthwhile, and it’s a tool for our tyrannical government to arbitrarily give orders to the rest of us.
It creates a new agency and agencies require funding. Perhaps this beast can be starved along with Obamacare until enough conservatives are in place to truly repeal them — and a president who won’t veto the repeals.
I suspect that it contains both intended AND unintended.
It will be like Obamacare once it is thoroughly analyzed — everybody will have his own favorite gripe about it and people will be calling for repeal of this POS also.
Well, now that I think a bit more about it, parts of Glass-Steagall Banking Act were repealed, and indeed, this current bill I believe actually reinstates portions of the 1933 Banking Act --- though with 2000 pages in it, who knows what's actually in there?
Senate Banking Committee Chairman Chris Dodd admitted: “No one will know until this is actually in place how it works.”
How long does a progressive democrat have to work at it to reach the point of insane?.
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