Saturday, April 24, 2010

Now It's a Takeover of Our Financial Sector? When Will The Destruction Of Our Economy End?

Misgovernance: Barely a month after the 2,600-page health care bill became law, Congress has teed up another landmark piece of legislation: a 1,600-page financial overhaul. So what's the big hurry?

As with the health care measure, no one seems to know exactly what's in this massive new bill. And what we have seen leaves a lot to be desired.

Legislation that radically changes the way we conduct our daily lives is usually subject to long deliberation and thorough debate before a decision is reached. But not in this Congress.

The financial reform that Sen. Chris Dodd has put forward contains little if any input from opposition Republicans. With their 59-41 majority in the Senate, Dodd and his Democrat colleagues are convinced they no longer need to compromise.

In his speech on financial reform last Thursday in New York, President Obama made his case and invited Americans to "debate" it. But that very day, Senate Majority Leader Harry Reid, to the surprise of nearly everyone, announced there could be a vote on Dodd's bill as early as Monday
. Read: "Why No Debate" at IBD.

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