277. Financial Reform Bill

Here we go again. The debate is now the Financial Reform bill passed by the House and being argued in the Senate. First let me direct you to articles that oppose each other: This one for the reform and this one that has objections to some of the bill specifics. You decide for yourself -- of course this debate is straight down party lines again. I like to look at the consequences to We the People. The first article for reform tries to explain that there won't be any taxpayer money to bailout future bank failures (the item of disagreement). But if you read my last post, I alerted you to the word "HIDE"! If we go that route, the banks have to ante up upfront some $50B that would be held and used in the future should a crisis exist again. Well folks, where does that $50B come from? The banks write the checks to the fund, but do you really think they can afford not to recoup this money somehow? How about bank fees! Hence, you the tax payer don't think you are funding it, BUT YOU ARE! So, I rule out article one for its typical democratic lies and deceit. Whereas article two alerts you that the bill will create yet another agency -- now that IS TAXPAYER MONEY. Plus, it guarantees that "too big to fail" is guaranteed. Article two calls for letting the corrupt banks fail! $50B is not required! Now you think it out. Pay up front for bank bailout AND pay for more government, OR don't pay ANYTHING and let them fail. Besides, the crisis didn't start with the banks! The government pushed Fannie Mae and Freddie Mac, and therefore other loan institutions, to provide mortgages to high risk individuals. The method those institutions used to cover their butts was to package the bad loans and sell them to the public. Unfortunately, because of the enticing fixed returns, the large funds and hedge funds snapped them up, i.e., for your pensions, 401-Ks, mutual funds, etc. WHEN do we get to punish the government for their screw up! How about starting this November! Barney Frank (Mr. Blabber) needs to be go, as does Pelozi, Boxer, Reid, and other far and radical leftists who don't care about We the People but only their own job! Let's stick to the facts -- just the facts 'Mam.