Dodd-Frank Financial Reform Bill-In a word: “Chutzpah”

( – promoted by Rob “EaBo Clipper” Eno)

I am dismayed by Senator Brown’s articulated support of the Dodd-Frank Bill. This bill represents not only “government overreach” but also excessive regulation and a complete lack of “transparency”.  We can do better, we must do better.

“Chutzpah” is the best way to describe a financial regulatory bill which does not address and reform the two companies most to blame for inflating the housing bubble.  Fannie Mae and Freddie Mac have done a grave disservice to the housing industry and economy as government-sponsored enterprises (GSE’s)–and the eventual cost of bailing them out will be far greater than the cost of TARP.

The Massachusetts Federal delegation has done as it has seen fit for years.  A previously complacent voting public, which for decades allowed these public servants to follow their own respective individual callings, has recently become acutely aware of the stakes not only for the Commonwealth but for the entire nation as we approach an economic “tipping point”. Elected officials across America should pay great heed to their constituents or they will be taken to task by those who are fed up with the special interests that are responsible for the creation of such a bill.  

We must push for limited government and fiscal discipline. Unfortunately, this legislation facilitates the growth of a more burdensome bureaucracy while enhancing executive reach. It fosters an environment devoid of responsibility and accountability.  It even contains a provision that mandates race and gender quotas on financial institutions-strong anti-discrimination laws are already on the books and new, more powerful ones should not be inserted, without debate, into a financial reform bill.

There are many other specific provisions of this bill that I find “toxic”, but I will not address them here. Suffice it to say that I believe the Dodd-Frank Financial Reform Bill is bad for my state and the nation. As a candidate for Congress in Massachusetts’ 9th District, and as a constituent of Senator Brown, I say: “PLEASE VOTE NO”!

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