One Step Closer to Socialism -
Financial Reform Law?

a blog by
Ruth McClung
July 22, 2010

With everything that our country has been facing for the past several years, we now have another problem to deal with, the Dodd-Frank Financial Reform Law. This is another government bureaucracy weight to add to the shackles that our federal government has placed on small business. With its 2,300 pages, it has become a job "creator" for the lobbyists and lawyers who will go to Washington to interpret it, but for the rest of us, it will make lending and borrowing more expensive and destroy jobs. Small companies will collapse under the new government burdens and regulations. We cannot afford this bill. It is a blatant attack on small business and "Main Street".

This bill will decrease the predictability needed to jump start the economy. I discussed how predictability was needed in an earlier op-ed. With small business being held to the same regulations as large business, and without the ability to hire a fleet of lawyers and lobbyists, they will have little say in where this monstrosity takes them. They will also struggle to stay compliant with the strict regulations that will be placed upon them.

Dodd and Frank are arguably the two politicians who carry the most blame for the housing crisis. Why do we trust them to "fix any problem? This bill will do nothing to address the problems that created the recession that we are currently in. Wall Street and large financial firms (otherwise known as the "Too Big to Fail" companies) will find numerous loopholes in the bastion of non committal regulation that is this 2,300 page bill. It is small town America who will suffer!

A vote for me is a vote to shrink government.

Ruth

http://online.wsj.com/article/SB10001424052748704288204575363162664835780.html
http://online.wsj.com/article/SB10001424052748704682604575369402612040086.html

 

 

Ruth McClung for US Congress Arizona CD 7

 

 

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Ruth McClung for Congress

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