Tag: Dodd

More Financial Chicanery

The Dodd-Frank Bill, which supposedly will bring significant financial reform to banks and Wall Street, has passed Congress and is on its way to the White House for Obama’s signature. Wait a minute, what was the name of that bill again? Dodd? Frank? Sound familiar? Sen. Chris Dodd and Congressman Barney Frank were the architects of the government mismanagement of the economy that led to the current recession. They were the ones who opened the floodgates for Fannie and Freddie to… Read more »

Losing Touch with Reality

I was watching  a news program last evening in which the economist made a rather bold pronouncement: President Obama has lost touch with reality when it comes to economics, he said. The president has no understanding at all of how the economy works. I’ve believed that all along, but it was rather refreshing to hear someone say it out loud to a few million viewers. What sparked that comment was the recently ended G8/G20 Summit of industrialized nations. As all… Read more »

Deliberately Ignoring the Real Problem

Congress and President Obama are out to get Wall Street now. It’s not as if there doesn’t need to be change on the Street, but it needs to be the right kind. In the past, when Wall Streeters made bad decisions, there were consequences. People learn from consequences and change their behavior. We’re no longer content to allow that. The federal government must now step in and “correct” the behavior. One of the architects of a proposed law to penalize… Read more »