Thread: All Americans Call Congress & oppose financial reform bi

All freedom-loving Americans and legal immigrants should call Congress to stop the financial reform bill (S. 3217)........

mainly because of AGAIN what is hidden in the bill that is not being talked about..... which is again the social agenda, takeover agenda by the government (just like healthcare) as per the Obama Presidency

In the bill is language that creates yet ANOTHER large enforcement bureucracy, the Consumer Financial Protection Bureau (CFPB), to 'hang over the shoulders' to watchdog Americans and U.S. businesses (hence squelching freedom to innovate, etc. by imtimidation) which gives the U.S. Treasury (Tim Geithener) power to deem a company "troublesome" to the U.S. economy and then go in and dissolve the company, take control of it and fire the board of directors.

SO with another unnecessary large bureaucracy is government jobs being paid fat salaries which means more taxes on Americans to pay those salaries. also so Obama can claim he created some jobs...

The bill also creates a $50 billion fund (our taxpayer money) to be used as a bailout if the Federal Reserve 'deems' that it is important to save a particular company. --- so here is politicization of the economy -- that maybe a company could be pestered, intimidated or dismantled if the Feds think so or it could be saved if the Feds think so (of course likely given the current likes or dislikes of a current Administration). ALL under the guise of "saving the U.S. economy from another crisis" - to "never let it happen again" or that some are just "too big too fail". By the way a crisis that was very much facilitated by the government in the first place by corruption and non-enforcement by the SEC, etc.
And so the $50 billion fund IS endless bailouts where you know the fund would just be replenished endlessly....

There is NO need for another worthless enforcement bureacracy that trys to control Americans lives and decimates freedom and business WHEN there already are 3-4 Consumer enforcement bureaucracies already created that simply are not doing their jobs...

As well here is the very violators and corruption Actors of the financial system creating and pushing the bill (the height of corruption) -- Chris Dodd (Countrywide mortgage loan scandal), Barney Frank (sub-prime mortgage scandal), Tim Geithner (tax cheat, Federal Reserve money printer), Kent Conrad (Countrywide mortgage loan scandal).

CHRIS DODD -- CORRUPT financial dishonesty -- is the main author of the bill!!

SO AGAIN just like healthcare -- the financial reform bill is really NOT about financial reform --- its about government takeover and control of free American People --- forget about the media hype -- WAll St. this, Wall Street that --- this 1335 page bill has language in it that will force control on things right down to small community banks and just about monitor your bank accounts.....

CALL CONGRESS.....jam up Obama's agenda as much as possible (why you say--because what is now quite evident that his"transform" America means imposing freedom destroying controls that violates liberty, free enterprise,etc.---on nearly every issue)

Despite the assertions that traditional banks will not be harmed under this legislation, I ask that you take a closer look. S. 3217 creates an unworkable regulatory structure that will impose heavy new regulatory requirements on traditional banks like mine, pushing business to less regulated or unregulated non-banks, some of which contributed to this crisis. The bill creates a new Consumer Financial Protection Bureau (CFPB) that would subject all banks, regardless of size, to new rules. I support strong consumer protection and believe improvements should be made, but the creation of this new regulatory bureau for consumer products is the wrong approach.

Despite what you may have heard, traditional banks like mine would be subject to this new consumer bureau's rules, allowing the CFPB to basically determine what products my bank can offer, on what terms, and under what settings and circumstances. The new CFPB would be required to mandate expensive new reports from my bank and are authorized to mandate others. These reports have nothing to do with the financial crisis and would not be required from many non-bank competitors and simply add to business costs.

Phone Congress and support this bill. If anything, it does not go far enough. There should be a regulation that prevents banks from speculating with their clients funds. Get banks back into the lending business, so small business can flourish, rather than the business of making money through trades.

Bettybb wrote:

Phone Congress and support this bill. If anything, it does not go far enough. There should be a regulation that prevents banks from speculating with their clients funds. Get banks back into the lending business, so small business can flourish, rather than the business of making money through trades.

Have you read S. 3217 in its entirety?

I support TOTAL FINANCIAL REFORM. Any bill they put through will not be tough enough. Private companies should not be allowed to threaten the health of the global economy as they have been allowed to do. If they get too big...take them down. They have proven they cant be trusted to do business in an ethical manner, WE NEED REFORM AND REGULATION.