Proposed Financial Regulation Bill Will Monitor Checking and Credit Accts

The Proposed Financial Regulation Bill will Allow Feds to Monitor Checking Accounts and Credit:

Like with their nationalized health care bill, democrats want to ram their banking bill through Congress before the American public knows what’s in the bill. And, like with their nationalized health care bill, the state-run media is doing all it can to aide and abet with this immoral and possibly criminal act against the American people.

Heritage Foundation has the following review of the Financial Regulation Bill which is being taken up the Senate this week:

14 Fatal Flaws of the Proposed Financial Regulation Bill

It appears some Republicans in the Congress are going “squidgy” and may vote to approve a huge “power grab” by the Obama administration.  

James Gattuso:

“The Senate is expected to take up a proposal, originally authored by Senator Chris Dodd (D–CT), to reform the financial regulatory system in the U.S. The goal is clear: to minimize the chances that another financial crisis—and bailouts—will arise again.

The objective is a good one. Unfortunately, the 1,408-page bill includes numerous provisions that would hurt—not help—consumers and the economy. It would even make another financial crisis or bailout more likely to occur.”

Gattuso says the Financial Regulation bill has fourteen fatal flaws:

Read about them at the Heritage Foundation.

Read “Will the GOP Cave on Financial Regulatory Reform Bill?”  with commentary by Dick Morris who says Fidel Castro in Cuba and Hugo Chavez in Venezuela do not have the powers over their financial markets that this bill will give Obama. The post also has contact numbers in the Senate to call to ask for a NO vote.