via http://www.heritage.org/
Sen. Christopher Dodd, left, and Sen. Richard Shelby.
Related articles via http://www.drudgereport.com/ :
---
Another 2,000 page behemoth of a bill...just like the Health Care Bill that was passed earlier this year. Of course we HAVE to pass this but won't know what's in the bill. Gee wiz.
They didn't fix Fanie Mae and Freddie Mac...just give themselves more power to seize companies/banks and raise taxes (that we'll pay in higher fees and lower interest rates on our accounts).
Sen. Christopher Dodd, left, and Sen. Richard Shelby.
Source: http://blog.heritage.org/2010/06/25/an- … s-beneath/The Heritage Foundation wrote:
That runaway train picked up more speed this morning, as a House-Senate conference committee came to a final agreement on a Wall Street reform bill that’s packed with $19 billion in new taxes and fees on banks (which consumers will end up paying), a new consumer-unfriendly Consumer Financial Protection Bureau, and a complete failure to reform Fannie Mae and Freddie Mac (among the causes of America’s financial nightmare).
Though the Wall Street reform bill is aimed at solving the problems that led to America’s financial collapse, it entirely ignores one of the major culprits responsible for our fiscal mess – Fannie and Freddie. As the Wall Street Journal reports, “Government-controlled Fannie Mae and Freddie Mac remain a multibillion dollar drain on the U.S. Treasury, and largely untouched by this proposal.”
Given the sheer scope of the nearly 2,000 page bill, the biggest concern might be the unknown, unintended consequences that lie beneath. As Rep. Jeb Hensarling (R-TX) said during a conference committee meeting, “My guess is there are three unintended consequences on every page of this bill.”
Related articles via http://www.drudgereport.com/ :
- NEARLY 2,000 PAGES: The legislation would redraw how money flows through economy...
- Government would have broad new powers to seize...DODD: 'No one will know until this is actually in place how it works'...
- Obama calls for bank tax as next step in reform...
---
Another 2,000 page behemoth of a bill...just like the Health Care Bill that was passed earlier this year. Of course we HAVE to pass this but won't know what's in the bill. Gee wiz.
They didn't fix Fanie Mae and Freddie Mac...just give themselves more power to seize companies/banks and raise taxes (that we'll pay in higher fees and lower interest rates on our accounts).
Last edited by Harmor (2010-06-26 09:21:15)
