The Obama/ Democratic Congress does it again
Dodd Frank Financial Reform Legislation– Watered Down, Diluted, Loaded with Loopholes-
The bill is another sham reform, a gift to the finance industry, just like the health care reform bill was a gift to insurers, hospitals and big pharma. I assure you that built into this new “reform bill” will be new, expanded protections and extensions of privileges for finance companies.
By Rob Kall June 27, 2010 [print_link]
We’ve been stabbed in the back again.
We’re screwed again. Obama and the democratic congress did it again– created legislation that is labeled reform, but is so diluted it is worthless and won’t prevent another financial meltdown.
On Monday, the mainstream media will congratulate Harry Reid, Nancy Pelosi, Chris Dodd and Barney Frank and Barack Obama for passing landmark financial reform legislation.
But the real truth of how effective the legislation is was shown by investors, who bid up stocks three percent on friday, celebrating the financial industry’s escape from serious regulation. We the people of the US lost.
The Wall Street Journal expects that the legislation will be called the Dodd Frank bill.
Good!! Put their names on the bill. Make it clear who created the better-than-nothing, highly diluted, watered down, full of loopholes legislation. PHOTO: Chris Dodd (left), one of the main “sheperds” for this phoney financial reform.)
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The bill is another chimera of real change, guided by the faux change president, Barack Obama.
We now know that Obama is a staunch defender of big corporations, of lobbyist interests– not of consumers, not of the people who worked so hard, with such hope and faith to elect him.
Personally, I’m going to do all I can to denounce as many of the perpetrators of the Finance and health reform legislation as I can.
I’m going to work to make sure that Obama is a one term president.
We’ll be seeing energy legislation soon. We can be certain it will be weak, diluted, watered down, with loads of loopholes.
Legislation for Unions? expect the same trademark Obama/Democratic congress trademark profile– diluted, watered down, loaded with loopholes.
Improving regulation of Oil drilling? Expect the same.
Obama is a failure as a leader– his response to the Gulf oil disaster demonstrated this. PHOTO: The overrated and unreliable liberal Barney Frank. That besides being an insufferable blabbermouth.
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Obama has betrayed the tens of millions who voted for him. His sell-outs in favor of the biggest industries have become routine and predictable.
The Democratic congress does more of the same. They use good cop/bad cop games to pretend that there are some good legislators, but the way the progressive caucus folded in the face of pressure from Obama showed us that we the people are not represented in congress. We the people do not have anyone fighting for us.
When democracy fails, when it is sabotaged by a supreme court that is the most aggressive at changing the rules [in favor of the rich] in recent history, when elected officials are owned and operated by lobbyists and big corporations, it is time for a revolution.
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Rob Kall is executive editor, publisher and site architect of OpEdNews.com, Host of the Rob Kall Bottom Up Radio Show (WNJC 1360 AM), and President of Futurehealth, Inc.