What A Difference A Word MakesPosted: 14 May 2010
The economy in the US is going to crap in a hand basket…..we need massive financial reform if we are to ever avoid the same meltdown that was suffered in 2008….the Congress is working on FinReg as we speak…..but there is a slight problem….it is the word “significant”…..one word can bring the whole reform thing to a halt because somebody somewhere wants to turn it into a political game…..this is what we have as far as governance goes….the games people play.
As reported on Newser:
Republicans have found another reason to oppose financial reform: They claim it will impose regulations on dentists, florists, and plenty of other small businesses, all because of a single word: “significantly.” The Senate bill states that the Consumer Protection Agency will only regulate those who provide significant consumer financial products. But it doesn’t define what’s significant, Republicans argue, meaning it could apply to financing small businesses provide their customers. The argument comes straight from a Chamber of Commerce talking point, Politico reveals. Democrats are willing to better define the word—Chris Dodd worked with Olympia Snowe on an amendment that should clear things up—but find the whole kerfuffle disingenuous. “I realize the word ‘significantly’ is what people want to work on, and I am willing to listen,” said Dodd. “But don’t make me debate completely false allegations about what is in the bill.”
The Chamber has become a lobbyists tool in the past decade or so…they do the bidding of every corporation and industry that will pay them the big bucks for their opposition…..they seem to have NO principle other than the opposition to whatever bill that will control the practices of an industry….
It is NOT about protecting the taxpayer and consumer…it is about stopping all reform…it seems everyone is dancing to the beat of the banks…..a casino industry with NO regulations…..gambling with taxpayer money, where they win they keep all the profit and if they lose the taxpayer assumes the responsibility for their loses…..a great way to gamble, too bad you cannot get this deal from the government YOU fund…..