Chillin' out till it needs to be funded
I can’t get the right image for this article, but dear Chris Dodd and the screaming Barney Frank are busy fighting their own Democrat and Republican Teams. The fight for Financial reforms still got sold out long back and international audiences are watching an empty ring with the two corners showing up the two different fights. Seemingly it’s Dodd who’s batting for the reforms in the Senate Bill, But Barney in the Democrats’ corner unwittingly, is trying to get his team’s attention too… anyone who can draw this for me if welcome to join the Board at ADVANTAGES.US
Chris Dodd’s statements in the press would never have given us the insight Barney has given on his diatribe ( and not diatwibe, so much for social media’s reach) on Bloomberg TV. It’s relative. Anywhere else he would have been the voice of sanity but here, his bill has passed and Dodd is batting to get the Consumer Financial Protection Agency regulator off on the right foot in the Senate. As with healthcare the rest of the process is a big dud, filibustering because you have the 60th vote in a 100 person senate a real donkey kick to the process of governance. Finally this senate deterrence has already watered down the Jobs Bill to hardly $35 billion, ended the debate of healthcare prematurely and cornered the attention of those just hoping for a little less than the deluge of $10T that is about to hit the US this decade
The Consumer Financial Protection Regulatory Agency will of course, stand this test of time as it shapes up, but housing it under the Fed is definitely a disaster that can be avoided. The change of governments mid stream has not helped as Investment Banks also turn Republican when they should all have shaken hands with the new regulators by now.
It’s a shame. Let’s finish the fight…