The Democrats have reconciled House and Senate financial legislation differences, crafting yet another 2000-page bill that no one has read. They're prepared to pass it next week:
After more than 20 hours of continuous wrangling, congressional Democrats and White House officials reached agreement on the final shape of legislation that would transform financial regulation, avoiding last-minute defections among New York lawmakers that had threatened to upend the bill.
Fannie and Freddie aren't much affected — the Socialist Democrats want to regulate everything except government. I'm guessing that their friends at Goldman Sachs and other liberal-dominated, generously-contributing firms will make out OK, too. As for the rest of the financial services industry, especially the little guys buried under a new mountain of regulations and red tape, and their customers — well, I suspect this observation is accurate:
"My guess is there are three unintended consequences on every page of this bill," Rep. Jeb Hensarling (R., Texas) said of the nearly 2,000-page bill.
If passed into law, this abomination will give the Obama administration yet another boot on the neck of yet another industry. Apparently, the Socialist Democrats aren't going to rest until they fulfill Orwell's dystopian vision of a boot stomping a human face forever.
They're calling this the Dodd/Frank Act. And they gave those two weasels, who share a significant portion of the blame for the housing bubble and resulting financial meltdown, a standing ovation.
What are not legitimate concerns are those being put forward claiming a public option is somehow a Trojan horse for a single-payer system. … So, when you hear the naysayers claim that I’m trying to bring about government-run health care, know this – they are not telling the truth.
Here's what Barney Frank told the Single Payer Action organization on July 27, when asked why not to push for a government-run single-payer system right now (emphasis added):
Because we don’t have the votes for it. I wish we did. I think that if we get a good public option it could lead to single payer and that is the best way to reach single payer. Saying you’ll do nothing till you get single payer is a sure way never to get it. … I think the best way we’re going to get single payer, the only way, is to have a public option and demonstrate the strength of its power.
Here's the video (I'm sending a link to email@example.com, as Linda Douglass requested, so they can add Frank to their database of "disinformation" disseminators):
Who knew that Barney Frank was acting on behest of "high-level Republican political operatives" and/or insurance companies?
Note: Mary Katherine Ham uncovered the complete story of the "high-level Republican political operatives" cited by the DNC ad as orchestrating all the town hall meeting protests. It turns out to be a single libertarian, Bob MacGuffie (who insists he's never voted for a Republican), and four friends who set up a website and a PAC, Right Principles, with current assets of about four grand.
Ham also reports the parts of MacGuffie's memo on what to do at a town hall meeting that the DNC ad omitted, and she has a YouTube video of MacGuffie applying his own advice when questioning his own representative, Jim Hines. You be the judge of whether this is an "orchestrated, hateful action" by a member of a mob or a perfectly reasonable thing for a citizen to do in a representative democracy.