The Pending Financial Reform Bill, Small On Financial Engineering Big On Social Engineering

The financial reform bill expected to clear Congress this week is chock-full of provisions that have little to do with the financial crisis but cater to the long-standing agendas of labor unions and other Democratic interest groups.

One provision of the financial legislation, which goes before the full Senate on Thursday for a vote and likely passage, favor Democratic constituencies directly by requiring banks and federal agencies to hire and do more business with them.

The bill would create more than 20 “offices of minority and women inclusion” at the Treasury, Federal Reserve and other government agencies, to ensure they employ more women and minorities and grant more federal contracts to more women- and minority-owned businesses.

The agencies also would apply “fair employment tests” to the banks and other financial institutions they regulate, though their hiring and contracting practices had little or nothing to do with the 2008 financial crisis.

“The interjection of racial and gender preferences into America’s financial sector deserves greater media exposure” before Congress debates and passes the massive 2,400-page bill, said Kevin Mooney, a contributing editor for Americans for Limited Government‘s daily newsletter.

One more 2400 page Congressional  bill, few have read, creating hundreds of new federal departments  using financial crisis to advance more quotas in the work place.. The two things that affect us the most, and actually caused the financial meltdown, Fannie Mae and Freddie Mac  home loans, as well as  car loans not included. Bill made by and for unions and special interest groups… Look for the union label…More federal interference where  bank loans will  become harder to get and  much more expensive..

  

 

 

Tags:

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


%d bloggers like this: