If Present Ohbummer was the least bit serious about jobs he would ask the congress to begin untangling job strangling regulations, no really! We have seen the holding off of the eco-nazi regs the EPA was about to put on the energy industry, but that was simply to attempt to take the issue off the table for the election. The removal of the Frank Dodd banking bill would stimulate the housing and business world immediately. Even though there is a liquidity problem worldwide, the removal of this bill would allow banks to begin loaning to businesses and homeowners without massive gummit interference. This is like asking your sprinter to win a race while you have him chained to the starting blocks.
The American communists have taken over the DNC and have instituted everything that the Soviet Union attempted to install and failed where our commies have succeeded. They have turned a semi-capitalistic system into a jack-booted regulatory central planned economy that is now failing. If Ocommie was serious about creating jobs and releasing the economy from his choke hold he would have congress reverse every one of his Party's regulations on that economy to allow a free market. This would be a 20 year program of untangling and reversing this oppressive gummit burden. One of the first to get this economy going would be to eliminate the Frank Dodd banking regulations. This bill has pretty much single handedly eliminated the bank's ability to make loans in an attempt to destroy the banks and nationalize them by these two longtime devoted communists.
What the bill essentially does is triple the amount of paperwork and regulations for the banks so all loans in Peoria are issued out of the District of Corruption. Most are disallowed for a variety of reasons and the least of which is the ability to pay the loans. Most of them are social justice validations and the elimination of any way to underwrite the risk of the loans similar to Obamacare and the healthcare industry. This is simply a veiled attempt to finish off the banking and financial industry and turn it over to a Soviet style gummit in the District of Corruption. After the banks are destroyed there of course will be a Central National Bank similar to the one Black Whiteguilt Oblack will be proposing at his Jobsplan 4.0 speech where good little Party members will get loans and oppositionists will be turned away. Since these Soviets own your healthcare they may as well own your finances too.
How can anybody take seriously a banking program that was invented to solve the financial crisis caused by Frank and Dodd expect it to be solved by Frank and Dodd. These two should be jailed the rest of their lives rather they will be living the life of luxury and making our lives worse. The second problem besides burying these banks under a mountain of paperwork and regulations eliminating most small banks who can't handle the added expense is it makes loaning money nearly impossible. Many of the local banks have given up on attempting to loan money because the rules are too difficult to overcome. When a bank has no way of loaning money it basically has no method of making money. This is like telling an oil company it can't produce oil, how stupid would that be; oh wait.
This bill also defines what is a bank and what isn't to the point if you loan a friend a hundred bucks you may fall into a bank category and need help from Frank/Dodd in reporting that loan. This regulates everything all the way down to the Payday loan companies to make sure DC has everything under their control. The only financial institution Frank/Dodd doesn't control or audit let alone reform is Fannie Mae and Freddie Mac. The two biggest mortgage banks and loan purchasers in the country were amazingly able to avoid the scrutiny of the congress thanks to Frank/Dodd. This of course is to avoid their own massive fingerprints on the financial meltdown when those corrupt institutions brought the rest of our economy tumbling down and to maintain one of the largest financiers of the DNC.
So what this bill was meant to do was to turn every bank in America into another Fannie Mae and allow Fannie Mae to escape any scrutiny. These commie libs hate anything that resembles capitalism or profits and love everything that destroys capitalism and profits. They believe every dollar of profit belongs to them and only they know the proper way to distribute it, for a 50% redistribution fee of course. We need to eliminate this and every other Soviet style bill as soon as we possibly can to allow the loans to be made and to restart the economy in every area that has been destroyed.
We have been taught to hate bankers, oil executives, corporate jet owners and every other successful person so we can punish them with Frank Dodd type punishment. Through class envy we have been taught to hate the very people who make this economy work using Marxist dogma by power hungry groups inside the DNC. Just like every other Marxist country we are suffering the same fate of high unemployment and a dying economy. Central planning does not work and cannot work because it is too complex to manage let alone plan in a dynamic system of this size and complexity. This is why regulatory bills like F/D have no chance of making things better and only worse when they were written for political reasons and to punish. We need to eliminate these regulations for economic reasons.
Every law like F/D that puts a restriction on an industry needs to be torn up and thrown in an EPA free burn barrel. We have to unshackle our economy from these Soviet style planners and let it breathe. We have to have Conservatives run on their elimination and let the American people decide whether they would rather live in the Soviet Union or America. We need our congress to put forward bills to kill Frank Dodd soviet style legislation to create jobs and bring back the economy. They need to stop talking about it, and start passing bills to free the industries and make America a free market again. They may get shot down by Pravda, Reid and the talking heads, but the American people can see past that and has the wisdom to know the truth. It is time our politicians trusted the American people and explain to them why these and other DC programs need to be fixed or eliminated to remake our Shining City on the Hill.
Pray for America