Dodd's Job-killer

Dodd's Job-killer

The financial-regulatory bill now before Congress is a fraud: Under cover of "reforming" Wall Street, it would inflict tremendous costs on Main Street.

All the fresh publicity about alleged dirty doings by Goldman Sachs, etc., is beside the point: Senate Banking Committee Chairman Christopher Dodd (D-Conn.) has produced a bill that skips over the real issues to focus on a Democratic bugaboo — supposedly abusive lending.

Thus, Dodd's bill fails to end bailouts, as many have noted. Instead, it adds new restrictions on credit — which are likely to cost our economy tens of thousands of jobs a year.

The Cato Intitute has been instrumrntal in monitoring and reporting on Constitutional issues that hit close to home.

They don't mince words when it comes to what's going on, and this article proves it.

Finacial 'REFORM' my arse....

Sadly, the job destruction doesn't end there. Former Clinton Treasury official Robert Litan and financial expert John Mauldin warn that Dodd's new restrictions on "angel investors" would dampen or even shut down that investment market.

An "angel investor" is a wealthy individual or small group that provides start-up capital for business ventures. The Dodd bill would require start-ups to file with the SEC before seeking "angel investments" and delay those investments while the SEC reviews the filing. The added legal and filing fees could raise the cost of starting a business by tens of thousands of dollars. It could also add another half-million jobs to the body count.

Why is the United States of America so ..... IGNORANT!?

If the Dodd bill were to eliminate future financial crises and related bailouts, perhaps its high cost would be worth paying. But it instead ignores the causes of the crisis, in favor of an agenda that rewards the very regulators that failed us the last time.

It's a win for special interests, and a loss for job creation.

In the time that I've spent bringing these reports to ATS, I've learned alot about the country I live in, and let me just say, that it's rather disturbing. I think I'm gonna go get a thorazine perscription now.....

Hey OP,

I usually do not respond to too many economic threads, I am going to say when I do I get to involved. I need to investigate all the avenues and then I usually get too pissed off to continue in my endeavors.

I appreciate your efforts and others like you that post these things. Maybe I and others should pay more attention to the business ends of things instead of the political.

That being said, I have posted a couple of threads in regards to the unemployment numbers over the time I have been here. I find it appalling what I have found.

COMPLETE manipulation of numbers. COMPLETE fabrication of statistics by our government.

I think a lot of us just cannot find the stomach any longer to follow the rabbit hole any deeper.

I know business. I have ran my own and have run sites for land developers. I use to run large quantities of men and women in business. Now, I blog because there is no damn work out there.

People need to realize that the "supposed" recovery has nothing to do with jobs any longer. You think that the economy is going to create jobs any longer folks? If it is, why has the Stock Market gone back up to 11k without any increase in employment? That is because they are no longer tied together.

Welcome to the NWO. Where your actual security MEANS NOTHING. The new Global Market is what is meant to cause this. Where EVERYONE is in the same boat. Your Government does not care about you. You are a cog in the machine.

It use to be the harder you worked the better off you became. Not any longer, that is the new capitalism. Enmeshed with the socialistic/fascist control your governments use to control the masses.

Oh well, too late to whine now. You are the ones that asked for the regulations that favor big business instead of small business. You use to be able to start a business with a small investment. But now you need to pay your licensing fee, your bond fee, your insurance fee, etc etc etc.

Welcome to what you wanted-CONTROL.