0bama's Rule has to end!
Posted on 07/08/2010 3:19:07 PM PDT by Virginia Ridgerunner
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.
(Excerpt) Read more at realclearmarkets.com ...
Is your race whatever your say it is? For example, if you are fair skinned, have blue eyes, and have a last name like Kelly can you declare yourself to be Hispanic? If anybody asks you can say that your great grandfather emigrated from Ireland to Argentina. You can say that your grandfather immigrated from Argentina to the USA illegally.... that is why there is no record of Grandpa Kelly at Ellis Island.
0bama's Rule has to end!
We need a white version of MLK jr.
If you are fair skinned, have blue eyes, and have a last name like Kelly can you declare yourself to be African-American. There's no check. No test. No criteria. It's entirely a self-identification. No one can legally dispute it.
Discrimination is immoral.
The question should never be asked.
I refused to answer it on the census.
This is my freaking country!
Why should I, or my children, have to come up with elaborate tales to have access to opportunity?
Why is the Federal Government involved in every aspect of my personal life??
It is ALL about wealth redistribution, centralized planning and socialist marxism....
From each according to his ability, to each according to his need...
Equality of reward versus equality of opportunity...
How many other “little” clauses are wedged in there? By transparent and “innocent” democrat operators.
It is WORSE than that:
All consumer “protection” functions, to be administered via the Bureau of Consumer Protection to be established WITHIN the Federal Reserve, transfers the data and micromanagement of all financial transactions of 308 million US citizens to a foreign corporation by Congressional legislation.
A larger, more definitive piece on how the globalization and financial de-nationalization of each US citizen is accomplished by this move:
http://www.newswithviews.com/Veon/joan54.htm
In addition, note Sen Dodds comments especially and also Sen Shelbys’:
“The Senate voted 59-39 on Thursday to pass the bill – the chief aim of which is to more-heavily regulate the financial industry – sending it to a conference committee in the House of Representatives, where differences between the House and Senate versions will be ironed out.
The bill, if it becomes law, will create the Bureau of Consumer Financial Protection and empower it to “gather information and activities of persons operating in consumer financial markets,” including the names and addresses of account holders, ATM and other transaction records, and the amount of money kept in each customer’s account.
The new bureaucracy is then allowed to “use the data on branches and [individual and personal] deposit accounts … for any purpose” and may keep all records on file for at least three years and these can be made publicly available upon request.
Senator Richard Shelby (R-Ala.) said that Democrats who claim this new bureaucracy will protect consumers are misleading the public.
“[T]he American people are being misled,” Shelby said on the Senate floor on Thursday night. “The authors of this bill are telling them that this legislation has been drafted to address the recent financial crisis and that it will ‘tame’ Wall Street. I am afraid that they are going to be disappointed.”
Shelby slammed the new consumer bureaucracy, saying that it was meant not to protect consumers but to “manage” them by monitoring their behavior.
“Mr. President, make no mistake, behind the veil of anti-Wall Street rhetoric is an unrelenting desire to manage every facet of commerce under the guise of consumer protection.
“They may be interested in protecting consumers, but they are more interested in managing them,” Shelby said.
Shelby also criticized the idea that Americans need government to watch over their every financial move, saying that it was better to allow people the freedom to make their own choices and fail than to never allow them the freedom to choose at all.
“Mr. President, I have faith in the American people and their ability to make good choices,” said Shelby. “Granted, we do not always choose well. But I believe that a poor choice freely made is far superior to a good choice made for me.”
Senate Banking Committee Chairman Christopher Dodd, D-Conn., right, and the committee’s ranking Republican Sen. Richard Shelby, R-Ala., emerge from a meeting on Capitol Hill in Washington, Monday, April 26, 2010, ahead of a crucial test vote for the financial reform bill. (AP Photo/Charles Dharapak)
“I am afraid that the architects of this bill do not share this sentiment,” he said. “Nor do they share my faith in the American people.”
Shelby further said that the ability of the Federal Reserve to collect such detailed information about the most basic of financial transactions was the beginning of an effort by government to regulate every financial action of every American citizen.
“This new consumer bureaucracy is intended by its architects in the Treasury to begin the process of financial regulation with the intent of changing the behaviors of the American people,” said the senator.
Shelby appears to be correct. The bill allows the bureau to collect any and all information on any person operating in the financial markets.
As it reads: “[T]he Bureau shall have the authority to gather information from time to time regarding the organization, business conduct, markets, and activities of persons operating in consumer financial services markets.”
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