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Dodd's Job-killer

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posted on Apr, 21 2010 @ 04:22 PM
Dodd's Job-killer

The financial-regulatory bill now before Congress is a fraud: Under cover of "reforming" Wall Street, it would inflict tremendous costs on Main Street.

All the fresh publicity about alleged dirty doings by Goldman Sachs, etc., is beside the point: Senate Banking Committee Chairman Christopher Dodd (D-Conn.) has produced a bill that skips over the real issues to focus on a Democratic bugaboo — supposedly abusive lending.

Thus, Dodd's bill fails to end bailouts, as many have noted. Instead, it adds new restrictions on credit — which are likely to cost our economy tens of thousands of jobs a year.

The Cato Intitute has been instrumrntal in monitoring and reporting on Constitutional issues that hit close to home.

They don't mince words when it comes to what's going on, and this article proves it.

Finacial 'REFORM' my arse....

Sadly, the job destruction doesn't end there. Former Clinton Treasury official Robert Litan and financial expert John Mauldin warn that Dodd's new restrictions on "angel investors" would dampen or even shut down that investment market.

An "angel investor" is a wealthy individual or small group that provides start-up capital for business ventures. The Dodd bill would require start-ups to file with the SEC before seeking "angel investments" and delay those investments while the SEC reviews the filing. The added legal and filing fees could raise the cost of starting a business by tens of thousands of dollars. It could also add another half-million jobs to the body count.

Why is the United States of America so ..... IGNORANT!?

If the Dodd bill were to eliminate future financial crises and related bailouts, perhaps its high cost would be worth paying. But it instead ignores the causes of the crisis, in favor of an agenda that rewards the very regulators that failed us the last time.

It's a win for special interests, and a loss for job creation.

In the time that I've spent bringing these reports to ATS, I've learned alot about the country I live in, and let me just say, that it's rather disturbing. I think I'm gonna go get a thorazine perscription now.....

posted on Apr, 21 2010 @ 05:28 PM
yep, its getting pretty clear to anyone by now that our government is aiding and abetting the criminals of wall street, only to make dam sure that no start up businesses or job opportunities ever have a chance in hell to catch root in the united states! makes me sick, thanks for the post

posted on Apr, 21 2010 @ 05:33 PM
Considering the damage that Dodd's last bill did that was signed into law (the Credit Card Act which resulted in many card holders with existing balances seeing their interest rates quadruple from 7% to as much as 29.99%) I hope that this bill is defeated as quickly as possible.

Dodd shouldn't be allowed to touch legislation that has to do with credit ever again!

posted on Apr, 21 2010 @ 05:56 PM
Dodd is preparing his golden parachute as he isn't electable any more by his constituents, oh wait he disguised that as retirement. He has to make bills that would allow wall street to get away with more blunder so that he can guarantee himself a job at one of those firms or as a lobbyist.

Anyone wana make bets, I say he is going to try to go for job in the banking industry. He seems to lazy to be a lobbyist.

[edit on 21-4-2010 by prionace glauca]

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