Saturday, June 26, 2010

Sweeping Financial Reform



Another 2000-page piece of legislation. How you can reform everything except Fannie Mae and Freddie Mac is quite astonishing. Most of the public has no clue why this may be. The Dems surely know but aren't telling.
Chris Dodd says that "No one will know until this is actually in place how it works."
Pelosi said a similar silly statement about the Health Care bill.
Chris Dodd knows the gig is up. That's why he is retiring and Dems are trying to cram everything in before the new Congress is sworn in next year.

3 comments:

dworth said...

The size of the document. Sweeping means a lot in many areas. So, I'm neither surprised nor disturbed that it is a big bill. I have said it before, although two thousand pages is a lot to read, the congressmen and senators have extensive staffs who are paid to read them thoroughly to say nothing of the endless think tanks that they all subscribe to in one way or another who interpret for them.

I certainly do not know most of what is in it, but does it matter? When is the last time that anyone of us or anyone in our acquaintance read any bill in its entirety from any administration?

Although I don't know, I assume the FM and FM will have to abide the new rules. What I do know of the bill via my readings and TV watching pleases me.

I am not upset by Dodd's statement. No one knows how well or how poorly most any bill will work, prohibition is an example.

I sound contrary just to be contrary maybe, but finance reform seems to me to be necessary. It wold be irresponsible not to take it on. I am happy that the brooms are out. It could well be that FM and FM are being swept under the carpet, I admit that. There is nothing stopping the Republicans from going after that particular reform next January if they take control. But I'll bet they won't.

Alan said...

I do not share your sangfroid. Everything the Dems are doing increases the size of government. I know you are mostly OK with that, but I am not. In my opinion, if a bill is too big for the common citizen to read (whether he does not not is another matter), it is too big. I am always suspicious when government is not transparent, and this you'll-find-out-what's-in-it-when-it-becomes-law attitude is arrogance and opaqueness in the extreme.

dworth said...

Reasonable positions to be sure. I hold to mine, but yours are viable.

Times are tough, the Dems are dealing with these times in their way...if they fail, the People will elect the Republicans. It will be time for them to handle things...it will be interesting to see if their approaches are better.

Given there are no constitutional amendments on the board, most anything the Dems do including expansion of government can be undone. That seems cavalier, but it must be held as an option, a reality.