The House passed the most ambitious restructuring of federal financial regulations since the New Deal on Friday . . .Hey, did you catch that? The government could "break up companies that threaten the economy."
The sprawling legislation would give the government new powers to break up companies that threaten the economy, create a new agency to oversee consumer banking transactions and shine a light into shadow financial markets that have escaped the oversight of regulators.
The vote was a party-line 223-202. No Republicans voted for the bill; 27 Democrats voted against it.
- Question: Which companies are targeted by this?
- Answer: Any big company that gives too much money to Republicans.
The 1,279-page House bill . . .1,279 pages! Let's face it: The Democrats couldn't pass a resolution to honor National Stamp Collecting Week that didn't run at least a thousand pages long with $50 billion in pork-barrel spending buried in the amendments.
Rep. Barney Frank (D-Mass.), who guided the bill through the House Financial Services Committee . . .
And of course Barney Frank is in charge of the bill! Who else can we trust to bring reform and transparency to the financial industry?
And when the bill goes to the Senate, Chris Dodd will be in charge of it. Because this just makes sense, you see?
Please, Mr. Caterpillar, let me hit that hookah. After four or five puffs, maybe the madness will seem sane.