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08-12-2011, 09:34 AM #1
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Dodd-Frank "Bank Reform" Will Increase Food Prices
Dodd-Frank "Bank Reform" Will Increase Food Prices
Jeff Carter
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Bet you thought Dodd-Frank was just designed to go after those greedy banks on Wall Street didn’t you? Well, there are always unintended consequences of regulation. Dodd-Frank is one of the worst bills ever passed by a Congress in the history of the United States.
Not only is it proving to restrict access to money by poor people, it is imposing crushing costs on smaller banks-effectively putting them out of business. This makes access to capital even tougher, because instead of going to a small bank where you can develop a relationship, a businessman now needs to go to a large monolith bank where they are a number.
Oh wait, there’s more.
Because of how the bill changes the way futures and options are regulated; along with how grain elevators and Futures Commission Merchants are regulated, your food costs are going up.
“If adopted as proposed, the amendments to Part 1.35 of the CFTC’s
regulations would require, among others, all members of contract markets and SEFs and to keep records of all oral communications that lead to the execution of a commodity interest (i.e., all agreements, contracts and transactions within the Commission’s jurisdiction) or cash commodity transaction.â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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