FINANCIAL REFORM PASSES: 2300+ Pages, Hidden Details Emerging

Remember the “2,074-page monstrosity” that was ObamaCare? . . . Forget about it. Somewhere in obscurity, where legislation is actually written, the game of one-up-manship appears to be completely out of hand, as the U.S. Senate on Thursday passed the financial reform bill that eclipsed 2,300 pages.

Like most experts in the financial world, economic analyst and professional investment consultant, Peter D’Arruda, is watching this legislation unfold with reservations—not just because of the size of the bill, bloated with hundreds of new regulations, but because of what Senator Dodd (D-CT) said as he ushered the bill through . . . something along the lines of, “We’ll have to pass it before we know how it will work.”

With this financial reform bill comes a tsunami of more variables that breed greater uncertainty— so much that economists say it will all but seize up the investment market and exacerbate the already stifling recession.

Even the bill itself raises conflicting assessments. While Barack Obama stands over it with the promise that it will ensure taxpayers never have to pay for bailouts again, others are simultaneously arguing that it virtually ensures more bailouts are to come.

I'm relatively well educated. I really can't say I ever read a book that was longer than 1500 pages (let alone 2000-3000 pages of legalese like some of these monstrosities passed by congress). It is a shame that they pass these “omnibus” bills with no one reading them completely, no one having a sense of what the implications are and no one having any responsibility for them. Maybe this is the plan of these congress critters and their swollen-headed staff: confuse and obfuscate so as to get to do whatever they want. A disgusting state of affairs. As to0 the congress critters: Vote them OUT!

I am confident that this legislation has conferred incredible powers to the bureaucrat-class that are unconstitutional, but so numerous that the challenges will take decades.

The 'Dodd-Frank Wall Street Reform and Consumer Protection Act' is another step in the direction of more government and union domination of all that we do. Nothing in the Act controls Fannie Mae and Freddie Mac--they remain a multibillion dollar drain on the US Treasury--or the financial disasters their corruption and poor management have created.

This bill was used to get unions more control of companies, and to get minorities and women more jobs where they can never be fired. Publicly traded companies will need to allow the unions to seat their members on the boards of said corporations. Also an enlarged staff at SEC, CFTC and the Fed stuffed with faithful and deserving Democrats selected by Chicago style patronage. I can't wait for the minions of Sheila Jackson Lee to be seated on the Board of _______ [you fill in the blank]. God help us.

The bill will punish businesses that are not unionized. That's the purpose of this bill.

We're in deep, deep economic trouble. And these liberals are going to friggin' sing and dance along, all the way, as they dance off a cliff.

WAKE UP AMERICA

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