Treating Wall Street Like the Mafia
by Anthony RandazzoPerhaps Senate Banking Committee Chairman Chris Dodd (D-Conn.) thinks of himself as a modern day John Sherman. In 1890, Ohio Sen. Sherman set out on a mission to establish “just competition” laws and level the economic playing field. His quest culminated in the dismantling of monopolies—such as American Tobacco and Standard Oil—and the passage of new laws prohibiting malicious competitive practices. In a similar way, Dodd now seeks the power to tear apart any company he considers a risk to the national economy. But unlike Sherman, Dodd isn’t out to create the best possible conditions for competition to thrive. He’s out for blood.
Dodd’s plan for overhauling Wall Street regulations, released mid-November, includes a proposed new organization: the Agency for Financial Stability (AFS). This new regulator would be tasked with identifying and addressing “systemic risks posed by large, complex companies as well as products and activities that can spread risk across firms.” This represents one piece of the most extensive proposal to reform financial services regulation—topping even the ridiculousness of the Obama plan and Barney Frank plan. Which is saying a lot.
An Agency for Financial Stability would enjoy unprecedented power over the private sector. To read what kind of power, and how Dodd’s AFS would have the authority to treat Wells Fargo or UBS like Al Capone and the Bonanno crime family, see my recent article at Reason Online.
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37 Comments
First Dodd and his Dem cronies force banks to give loans and mortgages to those unfit to get them, who will NEVER repay them, covers up for Freddie and Fannie, and makes it impossible for President Bush the younger and Congressional GOPers to even begin to start to get things fixed and now he wants to blame these same people and institutions for the problems he and a few others ( FRANK, OBAMA, RAINES, GORELICK ) caused and promulgated.
Dirty Dodd, he, along with Teddy THE SWIMMER Kennedy, was part of the infamous WAITRESS SANDWICH, is the scion of a discredited, shamed, very corrupt Congressional family.
Lets all pray that he doesn't manage to get anything through the Senate, this or next year, as he WILL be defeated in the 20101 elections.
Breaking News! Just in:
The United States Constitution has just been found in a dumpster behind the White House. Complete details later!
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Hey Dodd, you idiot. Big Question, did you fire the head of the SEC and the investigators for not paying attention to the Madoff Theft? Oh, no one was fired. Maybe if you put people in charge that can enforce the laws, you wouldn't have to write new laws to be ignored!
So let's see, if you fire Holder for not bring RICO charges against ACORN and big Al Gore for bilking the government out of BILLIONS, Tax Cheat Timmy for treating the Fed like his own personal bank account, the Department of Homeland Security for poorly overseeing access to the Whitehouse or the FBI for not thinking a Major in the Army is in the wrong for writing a terrorist. There are places to start without making a single new law. Grow a pair and do your fing job.
Hey, Dodd, we'll turn you lose on ACORN and SEIU! Go ahead and destroy them.
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Dood is out for blood?
He is a pompous, pathetic, pontificating, Progressive.
The only wat to save America, is remove people like that from office.
Friends of Angelo, the Countrywide criminal Dodd! What balls to lecture anyone about criminal activity…sheesh. The good news is this creep is in political trouble and perhaps the people of Connecticut will send him home in 2010.
God, I pray to you for guidance. Where do we begin to clean this mess up & restore our country back to the people?
You did just begin. Just keep your eyes and ears open for the answers.
Lucky me <sarc> – I get Dodd in my home state (CT) and Frank at my summer home (MA)….He's a pompous old fart and has done way to much damage to this state and our country. He's got his own agenda and pathetic following. Dump Dodd once and for all.
If dreams came true for me : The whole lot of these crooks would be found guilty and in orange jumpsuits in Gitmo – charged with treason against the United States. 2010 and 2012 cannot come fast enough for me.
The chutzpuh of these scoundrels leaves me shaking my head. Mortgage loans were low risk investment before the libs started manipulating the market. Add the mergers of staid old Main Street banks with the go-go Wall Street investment banks and you have a prescrition of what happened, a financial meltdown. Only egotistical power hungry oafs like Dodd, Frank et al would think that they could control the US economy. These guys are dangerous because they can only screw it up instad of help it.
If the MSM would do their jobs and report on how corrupt this scumbag is, then maybe he could be removed by some legal means, or maybe even be miraculously voted out next election. What a treat that would be for all of us. The only problem with that is the MSM is as corrupt as he is, and in bed with all the other corrupt libnuts in DC that are ruining the country.
Get this man out of office and put him in jail where he belongs.
Well obviously we know that Congress is assuming powers that they do not have under the Constitution. This slow erosion has been going on for the last 100 years. Now is the time to put a stop to it and start reversing this insanity. For generations Congress has assumed that the American public is it's private piggy bank. Enough of this shit! Repeal the 16th and 17th amendments.
My kid just walked in & saw the picture of Dodd, he said "that guy looks constipated." Even an 8yr old has him figured out.
The Agency for Financial Stability? Seriously? This is coming from the same government that has given us a $1.4 trillion deficit, 17% unemployment, bankrupted social security and medicare and tells us stimulus money has been spent to "save or create" jobs in congressional districts that don't exist?
What the hell is next? The Jon & Kate Gosslin Institute for Responsible Parenting?
My dream is to round every single last one of the bastards up and put them on a ship, sail them all out into the middle of the Pacific ocean and drop anchor. Let them fend for themselves and turn on each other.
A Congressional Lord of the Flies Cruise.
[...] From: BigGovernment.com [...]
Straight out of Atlas Shrugged.
Remember to Vote in 2010 and 2012
The key difference from the Mafia is that they create income from haiving businesses pay for insurance or protection, and extort large points from unions, construction contracts, food distribution, drugs, black market tobacco, prostitution, gambling, gasoline distibutors, etc etc…they try to get a piece of anything and everything….and pay no taxes……oh sorry, that does sound a lot like the guys in Congress, Czars, and Treasury Secretary. What is the difference??? Dodd and his partners created the mess so they could gain access and control of letting their boys all benefit from the cleanup….get it. Create billions, if not trillions of dollars out of control….then make it look like you are the only one that can fix it….so your boys can all skim their points off the top, and no-one will ever question it. What a brilliant plan….I knew they had to be doing something in Congress to take up their time for the past thirty years….because there is nothing meaningful they have contributed to our great country — just problems and criminals.
Wake up America! Dodd is corrupt and he's just pissed he isn't getting a large enough share!He and Franks destroyed the hosueing market along with Raines by cooking the books at Freddie and Fannie! Look it up! it was reported as true a year ago. Depsite all of the outside indecaters Franks and Dodd kept backing what ever Rianes said so he could get a huge 25 million dollar bonus and they got political kick backs! Dodd is one the people responisbile for all of our problems. His greed and corruption! Impeach Dodd before he can cause troulbe for us! Kick the SOB out of office NOw! Do the same to Franks and then jail them for aiding and abetting Raines in accounting fraud and thieft of goivernent funds! wake Up America! take back your country! Only you can save us! the politians won't because they'd been paid off.
Wake Up! force an end to this mad spending and the break speed growth of the government! it is destorying us! Wake up and take to the streets. send faxes all day every day complianing to any and all senators overwhelm their systems. Keep calling continuiously and force them to shut down their offices! Picket their homes and local offices! Follow them around and complian loudly! wake up america! the only way to win against the elite and politicallly corretc crowd is to ignore the rules they want us to play by and attack them continuiously! wake Up america! they are stealing your wealth and making slave of your children!
The real crooks are government and the feds.
Dodd’s just another “legacy” congressman who inherited his place in the party from his alcoholic father. Of course, he’s also a jerk.
What Wall Street needs is to follow the laws of the marketplace and of supply and demand. Government rules, regulations and bureaucracy combined with politics is what got us in the mess we have now.
Dodd has been a “clean-up on aisle 5″ his entire political life. Let’s
clean it up in November for good. Anyone in Connecticut that pulls the
lever for this guy….I guess, deserves to live there.
I would really like to know what it's like to be governed wisely and fairly, and righteously. Thanks to people like Dodd, and Obama, and others, I don't think I've ever experienced this.
To the statist the solution is always more government, this is no surprise to anyone.
And this is doomed not just to fail but to make things worse.
They have ruined the automobile manufacturing industry.
They have ruined the housing industry.
They have ruined the banking industry.
They have bankrupt social security and medicare.
And now they want to buttress this with another government program, and the proles will watch American Idle and go along until they are fully enslaved.
Dodd, Frank and others are guilty of causing this mess just as much as amoebammma. Vote them out!
since this terd dodd is up for reelection hes desperate and will do anything his masters tell him to do, what a f-ing Lib wimp terd scum etc. save us dodd save us from the evil meanies, why anyone puts their faith in politicians to fix things is beyond me, the only answer i can fathom is mass hypnotism
It's all about taking control of the financial system to enslave us. The objective IS to get everyone into debt and never allow them out. See how Ann Minch leads a debtors revolt against the Bank of America and Govt: http://www.youtube.com/watch?v=jGC1mCS4OVo .
I hear they want to fix health care.
someone needs tomake these morons understand that Atlas Shrugged was not a "how-to" manual…
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