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Obama’s Plans For The Financial Regulatory System

The march goes on.  Obama has no intention of letting go of his plan to grab control of all he can and the pressure is on the financial regulatory system.

Obama and Geithner see an immediate need to take over all of the finanacial regualtory system .. including making it all powerful even over all states and local authorities.

The House Financial Services Committee is scheduled to mark up legislation that creates a new federal Consumer Financial Protection Agency (CFPA), which would regulate products such as credit cards and home loans. The committee is also slated to consider legislation that would regulate the multi-trillion dollar market for financial derivatives, instruments widely used to hedge risk.

Raising the pressure … Geithner held more than ten meetings this past week alone pushing this legislation.

I don’t pretend to understand the financial regulatory system …. but when an administration proposes taking control of anything and putting that control over the power of the states and local boards … something is going drastically wrong.

If they succeed … then something will have gone drastically wrong ,,.. and how long and at what expense would or could it ever be undone?

This applies to all this administration may want to take away from the states .. not just what Obama has planned for the financial regulatory system.

Just have to ask  …. just why did we fight the Revolutionary War?

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