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Free market has always, and will always, find ways to circumvent legislation. This bill will be obsolete the day it is signed into law. New fees on financial instituations will be passed on to the customer, and new laws will be analyzed for maximum circumvention.
Think i'm wrong? Consider this: Every single taxpayer goes to great pains to figure out how to evade paying more taxes when its time to file taxes. Why? Because any money saved is a benefit to the household budget. Businesses do the same thing by shedding assets at tax time to minimize tax liability. These are examples of evading the system.
So why would anyone believe that a law that prevents an institution from making money in certain markets stop that institutution from finding ways to make up for that loss in revenue?
That is why banks should not be part of the free market. The banking sector should supply money without any speculating motives. So only commercial banks should be allowed.
I am pretty sure that the bill still leaves many opportunities for banks to screw us over. They should not be allowed to.
So in short, no, no one can deny that this is yet another example of Republican Obstructionism? I'm guessing that in a second, what comes next is the argument that by voting against EVERYTHING that Obama supports, they are actually acting on behalf of the people. Because after Wall Street's Meltdown... the one thing the people DON'T want is reform on Wall Street.
The only argument I could understand would be, that some wanted stricter regulation. So was that the argument of the opposition?
No, but neither did anyone else here who is proclaiming that Republicans are obstructionists without knowing what it is they voted no to.. I know unions are discussed in the bill, so thats the part I skimmed to..
The only argument I could understand would be, that some wanted stricter regulation. So was that the argument of the opposition?
Right, thats what we all want.. stricter regulations to limit competition, causing less employment for american citizens and larger profits for those who have their hands in the cookie jar.
No, but neither did anyone else here who is proclaiming that Republicans are obstructionists without knowing what it is they voted no to.. I know unions are discussed in the bill, so thats the part I skimmed to..
So, what does it say about unions? Enlighten us! And what were the reasons Republicans voted against it? You are being very vague.
No, but neither did anyone else here who is proclaiming that Republicans are obstructionists without knowing what it is they voted no to.. I know unions are discussed in the bill, so thats the part I skimmed to..
LOL - the Republicans probably don't know what they voted no to - nor was it important to know. What was important was to keep that track record going of opposing EVERYTHING Obama does under the guise that the people don't want it. Like they did with Stimulus, like they did with Healthcare, like they did with the potential 2016 Olympics, like they did with [insert name of thing that benefits Americans here]
Right, thats what we all want.. stricter regulations to limit competition, causing less employment for american citizens and larger profits for those who have their hands in the cookie jar.
How does regulation on the banking sector, NOT the goods market, limit competition? How does that lead to less employment for american citizens?
I think banks should only work as commercial banks with no speculation and risky behaviour. How does that hinder competition?
I am really curious to hear an answer from you.
That was actually why Russ Feingold didn't throw support behind it...
...but he's a Democrat.
Oh thats interesting. Might check him out.
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