Feingold is only Dem. against finance reform bill

ap ^ | 7-11-10 | ap

[WOBBLY BOB]

MILWAUKEE

[HiTech RedNeck]

The jackboots are just too-too pink for Feingold.

[djpg]

I wish I could be hopeful, but I am afraid that some wishy-washy Republicans will vote for the bill anyway.

The liberals declare civil war on the country and expect the Republicans just to surrender. Unfortunately, enough of them do to ensure destruction of the nation.

[raybbr]

The Journal Sentinel reports that he's the only member of the Senate opposing the bill because it's not progressive enough.

And, there are some on FR that have argued, in the past that like Lieberman, Feingold actually has the best interests of the citizens at heart.

[Lancey Howard]

Lemme guess - - the bill isn’t communist enough for Feingold?

[Clintonfatigued]

Feingold is one of the few leftists in Congress willing to show some independence.

[Northern Yankee]

Feingold knows he's in the political fight for his life in the upcoming election.

Latest polls show that (R) challenger, Ron Johnson, is fast on his heels. trust me- that is the only reason he is opposing this bull, er... bill.

[popdonnelly]

This is an American disaster.

[Keen-Minded]

Many times Senators vote against a bill when it is obvious that it will pass even though they are for it. That way they can boast they voted against it to garner votes from their constituents. Is this the case here?

[Blackhawk]

Think it has more to do with the fact that he is up for reelection and his opponent is a nobody who just announced, has REAL Conservative views and is Tea party backed and is already polling even up. Foolsgolds 18 year career is going down the tubes and he knows it.

This is just an attempt to save his own a$$.

[Gapplega]

You’re exactly right.

That stupid little prick, Feingold, is in the fight of his life for his reelection. Go Ron Johnson.

[Frantzie]

Yup. It is Ron Johnson’s footsteps Feingold hears.

MCCAIN-Feingold gave us 2006/2008 Dems and Obama. MCCAIN is a Democrat.

[combat_boots]

Soros ran all 3 candidates in the 2008 election. All of them.

[Frantzie]

Maybe 4 if Romney is one of them. Possibly 5 which would be Edwards.

[Diana in Wisconsin]

Wisconsin Conservative Politics Ping List Ping!

The local airwaves are FILLED with ads from Feingold, touting his 'indepencence' and just how MUCH he 'listens' to us. What a freakin' JOKE, LOL! He is in some serious kimchee, up to his NECK in it, and he KNOWS it!

[50cal Smokepole]

Russian Foolsgold’s ads playing here are a joke. When I heard one the first time I almost shot coffee out my nose.

[Recovering_Democrat]

Really? I thought I had heard more than just FindGold was agin’ it.

[Diana in Wisconsin]

I can’t reach for the volume knob on the radio fast enough, LOL! Don’t watch much TV, so I’m spared THAT at least. :)

[givemELL]

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.”