WE sent Scott Brown to Washington to be the forty-first vote against any legislation that represented an overreach of big government.
The financial regulation reform bill is just that-an overreach of big government lacking checks and balances and Congressional oversight. This bill pretty much hands over 1/6 of our economy to the Federal Reserve and the Treasury.... Tim Geitner and Ben Bernanke (aka the executive branch). This bill, 2,300 pages, is called 'reform'; however, Fannie Mae, Freddie Mac and the Federal Housing Administration are never addressed – they get off “Scott-free”.
Yesterday on talk radio, Senator Brown said that Fannie and Freddie would be addressed later.... I am going to be waiting.... and I have the feeling that I shall be waiting a long time.
Sadly, the financial reform bill continues the saga of 'too big to fail.' To be sure, large banks will be 'too big to fail.' However, the smaller regional/community banks will be under the direct jurisdiction of the Federal Reserve and the Treasury.... and without any congressional oversight, the fate of the smaller banks will be destined to the whim of both these heavy-hitting authorities... only fifteen percent of the smaller banks have repaid TARP, and of that 15 percent, ten percent are in arrears one month, as of July 15th... instead of the normal business cycle of mergers and acquisitions or FDIC protection, these smaller banks will be dissolved.... at the discretion of the Federal Reserve and the Treasury....Tim Geitner and Ben Bernanke.....
ONCE AGAIN, THE TEN LARGER BANKS WILL BE TOO BIG TO FAIL, THE SMALLER BANKS WILL BE TOO SMALL TO SURVIVE.
This bill perpetuates the very problem it was meant to correct – yet, they call it reform. And THIS Scott Brown voted in favor of...bigger government, no checks and balances....
To make matters worse, Maxine Waters and Sheila Jackson have added 26 anti-discrimination amendments entailed in one of the largest bureaucratic layers of government we have ever witnessed, the Consumer Protection Agency.
And THIS Scott Brown voted in favor of...bigger government, no checks and balances....
If Scott Brown decided to vote republican only ten times, this should have been one of the ten times.... This was NOT 'just another bill." We saw that Senator Brown was vacillating when he was the deciding vote for cloture on this bill...
Scott Brown was a realistic hope for limited-government.
How disappointing.
When Senator Brown was on the radio he said “This bill is good for Massachusetts.” But I would like to respond to that comment by telling Senator Brown – what is bad for our country is bad for Massachusetts.
Please call Senator Brown’s office and let him know you’re disappointed:
202-224-4543.
God Bless and help the small banks and God bless the United States of America.
