Financial Overhaul Bill Will Move

by Ryan on July 13, 2010

in Economy,Election 2010,Politics

The template is set:  a bad Democrat bill which increases the size and scope of a government without tackling the underlying problem passes the House;  that terrible bill is a few votes short of cloture in the Senate;  suddenly two RINOs from Maine show up, think that they must do something and promise to vote for cloture, sending a bad bill on the way to becoming law.  Except this time, we need to add Scott Brown to the mix.

A financial overhaul bill that doesn’t even address the fundamental problems with Fannie and Freddie, which at the same time creates more labyrinthine government panels that won’t address the true underlying problem of an incestuous government/business “too big to fail” hybrid that facilitated this collapse is kabuki theater at best — an attempt to be seen as trying to do something, regardless of whether that something is good.  Create conditions to let businesses fail and maybe they won’t act so stupidly — it ain’t brain surgery, folks!

Ultimately, this bill will not help, but likely hurt the financial sector in the short- and long term.  Economic guru Peter Schiff has predicted much of the current crisis and is running for Senate in Connecticut with common sense solutions that don’t sound anything like what this bill does.  Schiff should be heeded.

The worst part is that this latest attempt at massive economic futility is being moved by Republicans.

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