The “Obama Law” Devastates Impoverished People in the World’s Second Poorest Country, The Congo

Posted on Atlas Shugs / OpenMarket.org ^ | August 9, 2011 | Hans Bader

[11th Commandment]

People are going hungry, pulling their children out of school due to poverty, and joining criminal gangs to make ends meet in the poorest region of the Congo, the world’s second-poorest country. Residents of this African nation attribute this economic devastation to what they call “the Obama Law” — provisions of the 2010 Dodd-Frank financial “reform” law backed by Obama that have created a virtual embargo on minerals produced in the Congo’s desperately-poor mining towns. As David Aronson notes in The New York Times...

[11th Commandment]

Interesting read... Another "unintended" consequence of liberal "feel good" legislation. Of couarse the liberal response will be to blame business.

[edcoil]

According to Wiki - their own government banned mining not the USA.

http://en.wikipedia.org/wiki/Mining_industry_of_the_Democratic_Republic_of_the_Congo#cite_note-0

This might be another blame America first group.

[11th Commandment]

Wiki? really... the Wiki article states it may not met Wiki’s quality standards and may have to be rewritten.

[Dahoser]

And the Republican response will be to remain silent and pass up another opportunity to bash this clymer. All those years we’ve heard how Republicans hate black people and part of the so-called evidence concerned supposedly devastating Africa with a lack of foreign aid/exploiting resources/ignoring AIDS/etc., but now here’s a black (when he’s not Irish) President and his party doing real devastation and the Stupid Party is sipping cocktails with Muffy and fretting over invites to upcoming Georgetown soirees.

[Liberty Wins]

"This is just one of countless economically-destructive provisions contained in the Dodd-Frank law, which is a 2315-page laundry-list of special interest giveways that contains little real reform, and instead contains a vast array of payoffs and favors for special interest groups like trial lawyers. Civil rights commissioners and economists criticized it for containing racially discriminatory provisions. Dodd-Frank did nothing to reform the biggest bailout recipients, the government-sponsored mortgage giants Fannie Mae and Freddie Mac, even though Administration officials like Treasury Secretary Geithner later admitted they were at the “core” of “what went wrong” in the financial crisis. "

[Aevery_Freeman]

There is quite a difference between banning and ending (see: Drug Trafficking, USA).

Dodd-Frank seems to have closed the market.

Once again, Obama exhibits all the political deft of a Monkey Masturbating in Mittens.