http://www.elliscountypress.com/editorials/9820-does-the-new-financial-reform-law-protect-you.htmlduffhale@ev1.net
So. Now that Barack Hussein Obama has signed the new 2,394 page Dodd-Frank Wall Street Reform and Consumer Protection Act into law do you feel more confident about your financial security, your savings and your future? I know I don’t.
What that legislation really consists of is lots of provisions that have very little to do with the financial crisis but a plethora of goodies for the long-standing agendas of labor unions and other Democrat interest groups.
One of the biggies is a measure to make it easier for unions, environmental groups and other activist organizations that own shares in a company to put their representatives on the boards of directors of every corporation in the United States.
This so-called "proxy access" provision, which activist groups say they will use to improve oversight of corporate financial practices (if you believe that I have a bridge I’d like to sell you), has gotten a thumbs down from many business organizations across the nation including the Business Roundtable, the U.S. Chamber of Commerce and other major business groups.
Additionally, the Dodd-Frank legislation would impose costly new regulatory burdens on businesses such as airlines, utilities and other non-financial businesses that were victims of the crises rather than villains.
Other provisions of the bill, which the Senate passed on July 15, favor Democrat constituencies directly by requiring banks and federal agencies to do more business with them. It would create more than 20 "offices of minority and women inclusion" at the Treasury Department, Federal Reserve and other government agencies to ensure they employ more minorities and women and grant more federal contracts to minority-owned businesses.
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