The Senate passed the Banking and Wall Street reform package. They even named it after one of their most corrupt Democratic Senators, Chris Dodd. Over two thousand pages long, this bill is historic for provisions which have nothing to do with reform. The provisions have everything to do with filling the Democrats campaign coffers and pushing the progressive radical agenda. Most legislators probably never read the whole bill. Reading is not a Constitutional qualification to become a legislator.
One provision makes it easier for unions and activists to sit on corporate boards through the use of proxy votes. Many of these groups own stocks in corporations for the sole purpose of political and labor activism. This provision will get them a seat at the table. These groups are well funded. This insures the Dems have a ready source of cash. Worse, if they sit on boards, they can vote so the companies fund the Democrats, other social activist groups, and their lobbyists to the exclusion of anyone else. They can also vote and publicize whatever radical extreme agenda the Democrats want. This provision is not about reform. it is about an anti-business radical agenda and cold hard cash. Business and banking groups fought this to no avail.
This bill also contains draconian affirmative action provisions. Affirmative action has nothing to do with financial reform. It has everything to do with votes. The bill mandates more minority and female hiring in the banking and financial industry. It creates a monitoring agency with twenty offices to strictly enforce this provision. Again, nothing to do with reform. Zero, zip, nada.
The bill has other sops to activist and so called social justice groups, again, having nothing to do with financial reform. The Democrats do not care about reform. They only care about cold hard cash and perceived votes. What will the Democrats do if business decides to fight these provisions through the court system? Worse, what if business decides to use publicity to expose this corruption?
Over two thousand pages long, who knows what else this bill contains. Most legislators have never read the whole thing- just like the so called health care reform bill. This bill is historic alright. It finally allows the Democrats to start the destruction of the American Free Enterprise system. It finally allows the government to order businesses who to hire, who they can put on their boards, and forces companies to adhere to a radical agenda- an agenda that has nothing to do with reform.
Jobs and the economy? Forget about it. This bill will eventually destroy the economy. It will devastate an already shaky employment market. Just what the Democrats want. They want this recession to last. They really want a Depression. They want the ability to create a new government having control over every aspect of our lives. They want us to be entitlement slaves. This is the Democratic agenda.
I would bet the President did not read the bill. It is said reading legislation is not one of his favorite past times. He just wants to sign anything. Put a stack of paper on his desk, and, bam, ink on the bottom line. Just like tyrannical kings in feudal times. The power of the pen. Soon, we will be the serfs.