Those of you who have been taking notes on FINREG and understand even a fraction of it must think I'm nuts by the title of this piece. Because, those taking notes already know that the House version already passed by Chairman Frank's committee and passed by the Democratic Majority in the House and triumphed as more historical "reform" by House Democratic Leadership has loopholes so big on the "reform" aspect of the bill that you could drive the entire $600 Trillion derivatives market and "Too Big To Fail" right through it because that's exactly what the loopholes in the House bill does. Likewise, that's exactly what Senate Chairman Dodd's bill does. There are some reforms like the political death bed conversion of Sen. Blanch Lincoln and her Agricultural Committee with their derivatives reform bill, then you have Kaufman-Brown and Senator Dorgan on Too Big To Fail and the Sanders Amendment to audit the Fed but most of these, in particular the Sanders Amendment, are opposed by the Obama White House. We know what happens to reform items when the Obama White House doesn't support something or says they support it one day in public and then abandons it in private to appease certain Senators, Blue Dog House Democrats or union presidents but outright and fervent opposition to something that is popular with the people? I guess that depends on what you believe and how well you remember late July and June 2009 before the Teabagging Town Hall August recess as to whether or not the latter is a cleverly placed bad analogy... with purpose. If we're still waiting and hoping on "change we can believe in" am I crazy to imply that there's hope as we go down the path of yet another lobbyist-led exercise in Orwellian Newspeak and doublethink where the status quo is again protected as the people are yet again sold on the facade of "reform" on Opposite Day yet again? How is that a cause to hope?
Ladies and gentlemen, here's your hope:
The facade of FINREG "reform" will be BETTER than the health insurance monopoly expansion "reform" because it would be very politically UNPOPULAR to pass an individual mandate forcing all Americans, rich and poor alike, to buy CDOs from Goldman Sachs and the like under penalty of IRS fine as they did with the health insurance monopoly expansion's individual mandate.
*cure choir of angels*
There you go, Democrats. It's not hope, it's a punchline. The bar is barely off of the ground so go ahead and trip... (READ MORE)
Dear Pastor,Please burn a copy of the enclosed religious text. I agree that it's a hateful book. Within its pages, you will find tales of men killing their own brothers because God told them to; parents raping their daughters, and cities being destroyed in pillars of fire and rivers of b ...
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