“The American people will never knowingly adopt Socialism. But under the name of ‘liberalism’ they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened.”

Socialist Party presidential candidate Norman Thomas

Friday, June 25, 2010

With no sense of the irony, Frank and Dodd move to regulate the financial industries

Craven democrats, namely Barney Frank and Chris Dodd, in both houses have finished crafting a financial reform bill which should be ready for Obama's signature on July 4th. The sweeping overhaul of the financial industry creates huge new government oversight bureaucracies, gives government easy means of business takeovers, and limits dramatically the freedoms that promote wealth creation. All of this and the two biggest financial failures were left untouched by the regulations, Fannie and Freddie, both of which were bankrupted by the direct actions of Frank and Dodd and continue to need taxpayer underwriting today.

Blubbered a teary-eyed Chris Dodd, "No one will know until this is actually in place how it works. But we believe we've done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done."

Reminds me of when Nancy Pelosi said of the health-care takeover, "We have to pass it to see what's in it." The unmitigated gall of democrats to seize power and money from the American people while pulling the wool over our eyes never ceases to shock me.

I'm scared to ask why Barney's pulling up his pants.

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