Off-Topic: New Financial Regulation Bill

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	Name:	water_watcher -
	Subject:	New Financial Regulation Bill
	Date:	7/15/2010 4:47:32 PM

Another sweeping government power grab that gives government to bail out who they want (even non financial businesses) for the good of the economy, but only if they decide it is right. But nothing that fixes what caused the mess ... CRA and people borrowing money to meet government quota's without having the financial resources to afford the loan. They would not even put a 5% minimum requirement that republicans wanted.

It also makes Fannie and Freddie exempt from the regulation, but puts huge burdens on private banks ... and especially hurts small community banks that will not be able to afford to keep up with the additional regulation and making them less competitive against large banks. So it gives more power to the big guys ... hmmmm

The original financial regulation bill was "17 pages long" and worked well for over 60 years until the government forced the expansion of the Community Reinvestment Act and a "few" on wall street got creative and how to meet the demands of the crook at Freddie Mac so he could get huge bonuses.

So now the new bill takes over 2,000 pages of new regulations to fix what a few did, but was really started by government mandates and influence in the first place.

I have never been so ashamed of the government and the distruction of this great country in my whole life.

Other messages in this thread:

View Entire Thread

New Financial Regulation Bill - water_watcher - 7/15/2010 4:47:32 PM

New Financial Regulation Bill - realfast64 - 7/15/2010 7:28:48 PM

Me either - MartiniMan - 7/15/2010 7:31:27 PM

Me either - lotowner - 7/15/2010 8:25:38 PM

Me either - John boy - 7/16/2010 7:07:29 AM

How to Undo - MAJ USA RET - 7/16/2010 8:52:02 AM

New Financial Regulation Bill - widgethater - 7/16/2010 2:05:19 PM

New Financial Regulation Bill - Yankee06 - 7/17/2010 10:00:18 AM

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