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Democrats Wed Sep 23 2009
Financial Sector Reform Weakened by Democrats
In another powerful display of spinelessness towards the robber-barons of the US financial industry, Barney Frank and Timothy Geithner are at the forefront of weakening legislation aimed at finally setting some tough standards on lenders. It looks like Milton Friedman's ghost still haunts us, even in the actions of people that are supposed to be working for us. When will we wake up and realize that unregulated free market ideas should have been thrown in the garbage can of history long ago?
My favorite quote from this article: "We can't let the momentum for reform fade as the memory of the crisis recedes," states Geithner. Really, Mr. Geithner? If the crisis is fading, will this be another "jobless recovery", like in the 1990s? With millions of Americans still barely scraping by and with millions more without access to health care, this statement just shows how out of touch Obama and the Democratic Party is with working Americans.
Dutch / September 23, 2009 11:32 AM
So I'm confused. Are you for or against the proposed legislation to create the CFPA?