In a rather expensive looking effort to reassure that she is in fact on the job defending us from top-heavy, ill-mannered, near-do well’s we are presented with the following from the most recent Carol Shea Porter mailer.
“The Wall Street Reform and Consumer Protection Act enables the government to identify large interconnected companies engaged in risky business practices. Those companies will be subject to increased oversight, higher standards, and tighter regulations.”
So let me see if I have this worked out. A large interconnected serious of uncountable bureaucracies overseen by incontinent tax and spend politicians, engaged in risky business practices, that refuses to be subject to increased oversight, higher standards, and tighter regulations—That’s the Federal Government—is going to do what it is incapable of doing for itself to an industry which floods billions of dollars annually into lobbying and political campaign contributions to favored incumbents?
She goes on to suggest that failing firms will be shut down with Wall Street, not taxpayers, paying the price.
Who elected this simpleton?
Not only has she failed to see the irony of her own press ,she seems incapable of understanding basic economics. No matter who controls them, mandates them, or incurs them, all costs find their way into the wallets of everyday Americans. Oh, and then there is the matter of this “Act” she refers to that not only entrenches crony bail-outs at taxpayer expense, it hides them behind unelected bureaucrats so that members of congress don’t have to vote openly or be held accountable to the taxpayers.
You did know that was what this bill does, didn’t your Carol? Did you?
Cross Posted from NH Insider