Financial Reform Bill

by Chris | June 25th, 2010

Once again I’m sickened by the hypocrisy of politicians, America’s new "Ruling Class."  Today they have passed the Financial Reform bill out of committee which is expected to be sitting on President Obama’s desk to sign into law on … of all days … Independence Day, July 4th 2010

The thought of politicians telling Wall Street how to do their job is disconcerting.  Moreover the hypocrisy of the Obama administration is deafening.  While this bill goes to great measures to limit banks to trade in derivatives, this same administration is running full speed into the greatest global derivative farce ever conceived via Cap and Trade (or whatever it ends up being called) where the government will control the trade of fiat derivatives called carbon emissions.

But not only is this administration hypocritical, it is also disingenuous.

This new Financial Reform bill will not eliminate banks practice of derivative trading, no rather the bank just has to form a separate entity through with to engage in this type of trading … Now that’s fixing the problem!

Before your eyes glass over with all this talk about banking, trading and derivatives, according to Senator Chris Dodd, a chief architect of this bill, “This is about as important as it gets, because it deals with every single aspect of your lives.”

This “Financial Reform” bill doesn’t only affect those “Fat Cat Greedy Bankers” that Obama has pronounced as the cause of our current economic state … No, this bill will allow the Fed and our government control over just about every financial transaction that you engage in!

We all got stirred up over Health Care Reform that will have some effect on many of us … Our lawmakers now have just passed a bill that will give the government control of your personal finances!  Health Care Reform gave government control over your body, now Financial Reform gives government control over your money … next is your religion via free speech and political correctness …

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