The Dodd/Frank Wall Street bill (oh, the irony) just passed the Senate and is headed to President Obama’s desk. Obama will be signing into law what Bob Belvedere calls the Fascist Take Over of the Free Market bill. To recap, it does nothing to address the Fannie Mae and Freddie Mac problem that was at the center of the financial crisis. Nor does it do anything about “too big to fail” which, if I recall correctly, was the original intent of financial reform.
What the Fascist Take Over of the Free Market bill does do is reward more of the Democrats favorite special interest groups. Today we found out that the unions weren’t overlooked. Surprise, surprise.
The Washington Times: Principal among them is a measure to make it easier for unions, environmental groups and other activist organizations that hold shares to put their representatives on the boards of directors of every corporation in the United States.
The so-called “proxy access” provision, which activist groups say they will use to try to improve oversight of corporate financial practices, has provoked a backlash from the Business Roundtable, U.S. Chamber of Commerce and other major non-Wall Street business groups.
“This legislation includes provisions totally unrelated to the financial crisis which may disrupt Americas fragile economic recovery” and lead to increasing political battles in the boardrooms, said John J. Castellani, president of the roundtable.
Read the whole article for more on this dreadful 2300 page bill that passed thanks to the likes of RINOs Scott Brown, Olympia Snowe and Susan Collins. With friends like those three, who needs enemies? Why don’t they just switch parties?
Tags: financial, Olympia Snow, overhaul, passes, regulation, RINO, Scott Brown, Senate, Susan Collins, Wall Street Bill
Scott Brown=Stupid idiot. He has a thick head. He is a moron. He was elected in a state as a direct referendum against Democratic policies. If the people of Massachusetts, a very blue state, wanted a Democrat, Martha Coakley would have won. Why does Scott Brown want so much to be Martha Coakley, a loser? He has until 2014. Then he’s done. And, just think… when he was first elected people were thinking maybe he’d have a shot at President. Now he has a shot at unemployment. He sucks. RINO is a compliment to him. He is a traitor.
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Thanks.
Well…Julius Obamacus Caesar has gotten two out of the three major bills he wants passed. Next comes Cap And Fade.
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And this completes the circle. The unions will eventually overtake control of the board of D’s in a great number of American corporations, but it will be interesting come contract time, when holding the reigns of corporate control how they will be able to advocate for those that they say they are part of while demanding a level of performance and concession from, for growth and perhaps survival. It will always boil down to union managerial fulfillment and most importantly, protecting their elected fiduciary positions of power.
The corporation, now a microcosm of Communism; and we all know how well that has functioned and how it ends.
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Legislate and Regulate.
That is why we are getting 2400 page bills now. It makes room for the redistribution of wealth and the socializing of America.
Progressives wrote this bill……They hate and loathe and despise big business. They will regulate them into the stone age in the next 10 years.
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[...] (Excerpt) Read more at lonelyconservative.com [...]
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