and America takes another one in the........
rlmorel
Posted on 07/08/2010 11:41:56 AM PDT by Bigtigermike
What one finds when reading congressional legislation is invariably surprising. Take the Dodd-Frank financial regulation bill, for instance, which was created by merging Senate and House bills. When the Senate returns from recess one of its first actions will be to vote on the bill, which passed the House on June 30.
I was searching the bill for a provision about derivatives. What did I find but Section 342, which declares that race and gender employment ratios, if not quotas, must be observed by private financial institutions that do business with the government.
In a major power grab, the new law inserts race and gender quotas into America's financial industry.
In addition to this bill's well-publicized plans to establish over a dozen new financial regulatory offices, Section 342 sets up at least 20 Offices of Minority and Women Inclusion. This has had no coverage by the news media and has large implications.
The Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the 12 Federal Reserve regional banks, the Board of Governors of the Fed, the National Credit Union Administration, the Comptroller of the Currency, the Securities and Exchange Commission, the new Consumer Financial Protection Bureau...all would get their own Office of Minority and Women Inclusion.
Each office would have its own director and staff to develop policies promoting equal employment opportunities and racial, ethnic, and gender diversity of not just the agency's workforce, but also the workforces of its contractors and sub-contractors.
The mission, it says, is to assure "to the maximum extent possible the fair inclusion" of women and minorities, individually and through businesses they own, in the activities of the agencies, including contracting.
(Excerpt) Read more at realclearmarkets.com ...
where is the MSM?
Give the Tea Party treatment to any Republican that votes for this “financial reform” bill. Throw the bum out.
Remember folks, this was the exact language used to force Banks to loan to deadbeats to meet racial and gender quotas. We all remember how well that worked out.
They brought labor into Gov't leadership position, so labor from the top basically was dictating what business could do. Upside down from a free market society.
These "women and minorities" will be dictating what the rest of us can do IN the Gov't and THROUGH banking institutions.
This is perhaps the WORST provision of this bill, among many other bad things and this is the main reason the stock market dropped last week after the bill was passed by the House IMO.
When the Senate returns from recess one of its first actions will be to vote on the bill, which passed the House on June 30.
From the article
The Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the 12 Federal Reserve regional banks, the Board of Governors of the Fed, the National Credit Union Administration, the Comptroller of the Currency, the Securities and Exchange Commission, the new Consumer Financial Protection Bureau...all would get their own Office of Minority and Women Inclusion.
Each office would have its own director and staff to develop policies promoting equal employment opportunities and racial, ethnic, and gender diversity of not just the agency's workforce, but also the workforces of its contractors and sub-contractors.
What would be the mission of this new corps of Federal monitors? The Dodd-Frank bill sets it forth succinctly and simply - all too simply. The mission, it says, is to assure "to the maximum extent possible the fair inclusion" of women and minorities, individually and through businesses they own, in the activities of the agencies, including contracting.
Just what will the bill to the taxpayers be for the six-figure salaries of these gubbmint employees? And how many of THESE will be non-minority women?
Where are the Republicans?
I heard her say that part of this requirement will be that the Gov't agencies and contractors MUST regularly put a certain number of want ads in minority-dominated area papers.
Isn't that inviting the MSM to attack and, thus, giving Dodd-Frank more of a victory?
The better thing would be to just defeat the bill. It's in the hands of Brown, Snowe and Collins.
“Truth is not only violated by falsehood; it may be equally outraged by silence” - Henri-Frédéric Amiel
“Loose lips sink ships”.
Investment banking, trading and fund management are all hard-core old boys’ clubs, but quotas are never the solution.
You’re too shallow to bother with.
Actually, you’re the one who doesn’t have the ability to see the bigger picture.
WGIACB* Alert!
(*White Guy In A Cardboard Box)
On the brighter side, my wife should be able to get a Home Equity at 3% for 200% of assessed value...
You wanted “Change” America.
Bend over.
On the other hand, though Wall Street is low on African Americans, they’re open to all races and nationalities on a merit basis. Business is so global they need people from all over the world.
and America takes another one in the........rlmorel
Section 342, which declares that race and gender employment ratios, if not quotas, must be observed by private financial institutions that do business with the government. In a major power grab, the new law inserts race and gender quotas into America's financial industry.Not good enough! The law needs to stipulate a quota for Moslems, particularly in banking. /sarc Thanks Bigtigermike.
So, they’re going to put Hillary Clinton, Janet Napalatino, and Rosie O’Donnell on monies?
...because pretty women on money would be sexist and/or ‘pornography’. ;)
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