Debt Fast Track

More Finance Reform

Barak Obama and Chris Dodd are still at it, giving speeches and acting for the world like their 1,300 page finance reform package will give us consumer protection that is necessary to save the future. There is one element of this proposal that once again does not pass the initial sniff test…it has to be passed before anyone has a chance to read it and digest the full implications of the bill.
The mammoth bill has become a habit of the Obama administration. Reading and understanding proposed laws has always been difficult for our law-makers. There simply is not enough time for Washington DC to read all of the material necessary to make an informed decision. So, our senators and congressmen listen to their party and to their advisors. At times, some have even been known to listen to their constituents, but this is rare.
Knowing full well that there is no better way to cause confusion in DC than sending a large bill to congress, President Obama and his cohorts have perfected the massive bill strategy. Almost anything they propose is mammoth in size, and has to be passed immediately, or else our country will unravel at the seams. They rally their supermajority like never before, and manage to pass law that their concerned citizens rarely agree with. Then they move right along to the next one in line.
Yet, while the bills are large, they are also purposefully vague. No one really knows what the new laws mean until some government agency or department deciphers the code. New bureaucracies are almost always created, growing our governments’ reach and size by leaps and bounds. Once the departments issue their interpretation of the law, it often carries no resemblance to the initial intent of the law makers. But, the administration is happy. They just got to write the law, so to speak, which was their intention in the first place.
The bottom line – I can support finance reform. Just not this one. It does not pass my first smell test… In fact, it reeks.