By Jim Campbell, Citizen Journalist
Feinstein: Issue Final Rules Implementing Dodd-Frank
Key deadline to limit excessive speculation in energy markets now 16 months overdue. Not really, just another opportunity for Mrs. Feinstein to confuse an undereducated electorate. That’s not going to happen this time senator, voters in droves have decided to vote for Elizabeth Emken. (Please view her background and experience here.) She is the future United States Senator that can be trusted.
This piece of legislation was billed at protecting the consumer when nothing could be further from the truth. Mandating more government intrusion on an already shaky banking system, the legislation calls for onerous new fees and measures that will do nothing but raise costs to the consumer.
Once again California’s Senator Diane Feinstein lines up with the members of the left in another useless attempt to control the private sector. Dodd-Frank failed to deal with the melt down set in place when both Fannie and Freddie were put on steroids allowing those that could not afford a home with financing they would never be able to pay.
We The People can no longer tolerate the failed leadership of Dianne Feinstein and her congressional members as they sell America, American’s and the American dream out for personal gain. That’s right Mrs. Feinstein no more using $25 billion TARP Funds that you personally steered to your husband’s firm to refurbish foreclosed homes. Have you no shame?
It’s doubtful that the aging Senator has read the Dodd-Frank legislation. Giving her the benefit of the doubt, if she read it clearly she was not able to comprehend it.
Congresswoman Michelle Bachmann issued the following statement:
“I’m pleased to offer a full repeal of the job-killing Dodd-Frank financial regulatory bill. Dodd-Frank grossly expanded the federal government beyond its jurisdictional boundaries. It gave Washington bureaucrats the power to interpret and enforce the legislation with little oversight.
“Dodd-Frank also failed to address the taxpayer-funded liabilities of Fannie Mae and Freddie Mac. Real financial regulatory reform must deal with these lenders who were a leading cause of our economic recession. True reform must also end the bailout mindset that was perpetuated by the last Congress. I am proud to work towards repeal of Dodd-Frank because Congress must protect the taxpayers, instead of handing out favors to Wall Street.”
The Heritage Foundation weighed in on the matter saying, “Conservatives across the country have spoken out against the regulatory stranglehold that Dodd-Frank creates on the financial industry, which is why Heritage Action supported an amendment to the Economic Development Revitalization Act of 2011. Both Americans for Prosperity and Club for Growth have come out in favor of Rep. Bachmann’s bill.
Does the reader find it a bit odd that those representatives who took campaign donations both from Freddie and Fannie were given “sweetheart” loans? Where were the Republican? Whoops, forgot, they weren’t involved with the exception of holding multiple hearings to set the record straight, both entities were not fiscally sound and poor investments, while the Democrats on the panel continued to lie.
Please see Feinstein’s incomprehensible thinking on this topic below.