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Financial institutions aren't people, and financial institutions have shown repeatedly to routinely engage in illegal, and unethical acts that have undermined our economy.
the words “person” and “whoever” include corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals;
An institution can be any type of organized corporation or society. It may be private and designed for the profit of the individuals composing it, or public and nonprofit.
b : an established organization or corporation (as a bank or university) especially of a public character
Originally posted by jibeho
I don't think you really understand what is involved with a 2000 page piece of legislation that is aimed at overhauling our financial system.
Like I said earlier their are some decent provisions to further protect consumers but with the good you get the bad. This specific provision that I mention in the OP will open the floodgates and could easily lead to the new advisers poking around in your accounts. The verbiage leaves deliberate possibilities and loopholes.
This is being pushed under the guise of helping to protect the average Joe when it really amounts to a power grab and nothing is really going to change. Just more legislation to put more control in to the hands of the govt. The fed is still dumping money on the big banks, they are shutttering small community banks and still refuse to audit Fannie and Freddie or give them the classic stress test. This legislation will all but ensure that small banks across the nation will close forever leaving only the big govt. controlled super banks at the top of the heap.
They've got your healthcare, your finances, student loans and soon your carbon footprint. Not to mention the massive tax hike that is coming at the end of this year when Obama lets all of the Bush credits expire.
Protect them if you want. I believe that's the wrong approach, as we have seen, financial institutions have and will cause real damage to the economy if left unchecked.
Judge Napolitano has written three books: Constitutional Chaos: What Happens When the Government Breaks Its Own Laws; a New York Times bestseller, The Constitution in Exile: How the Federal Government Has Seized Power by Rewriting the Supreme Law of the Land; and A Nation of Sheep. His writings have also been published in The New York Times, The Wall Street Journal, The Los Angeles Times, The St. Louis Post-Dispatch, The New York Sun, The Baltimore Sun, The (New London) Day, The Seton Hall Law Review, The New Jersey Law Journal and The Newark Star-Ledger. He lectures nationally on the constitution and human freedom.
(4) COLLECTION OF INFORMATION- In conducting research on the offering and provision of consumer financial products or services, the Bureau shall have the authority to gather information from time to time regarding the organization, business conduct, markets, and activities of persons operating in consumer financial services markets. In order to gather such information, the Bureau may--
(A) gather and compile information from examination reports concerning covered persons or service providers, assessment of consumer complaints, surveys, and interviews of covered persons and consumers, and review of available databases;
(B) require persons to file with the Bureau, under oath or otherwise, in such form and within such reasonable period of time as the Bureau may prescribe, by rule or order, annual or special reports, or answers in writing to specific questions, furnishing such information as the Bureau may require; andomments
(C) make public such information obtained by the Bureau under this section, as is in the public interest in reports or otherwise in the manner best suited for public information and use.
(e) Information Gathering- In conducting any monitoring or assessment required by this section, the Bureau may gather information through a variety of methods, including by conducting surveys or interviews of consumers.
Originally posted by Iamonlyhuman
reply to post by jibeho
Although I do believe Obama wants our freedom and its in writing lots of places, I do think you're stretching this one a bit. The constitution doesn't protection corporations or companies but private citizens.
But, in your opening paragraphs, you quote that the final version of this bill is unconstitutional which is clearly is not.
Originally posted by Iamonlyhuman
Have you read it? I'll link it here for you: United States Constitution . This bill, as written, is not unconstitutional.
I know it's not a popular opinion here at ATS but it's reality. There are PLENTY of unconstitutional things that the Obama Administration has done... let's focus on the real ones.