Think ObamaCare is Bad? Read Frank Dodd!

With the current administration bombarding the citizens at every angle, every crack, every corner and every part of our lives, and diverting attention away from their dreadful record that PBO owns, it's way too easy to forget other legislation that will touch us.

One such example is Dodd Frank.  Named notably for the two Democrats that created this atrocious bill:  Barney Frank and Chris Dodd.  I will note right now the US is blessed these two cronies are not coming back in January.  Frank and Dodd, along with the Clinton administration, are the very reason we had issues with sub prime lending.  They passed the Community Reinvestment Act.  They forced banks to make mortgage loans to those who simply would not or could not pay back the money.  

 http://articles.businessinsider.com/2009-06-27/wall_street/30009234_1_mortgage-standards-lending-standards-mortgage-rates
http://spectator.org/archives/2012/07/27/and-you-thought-the-housing-cr
http://www.forbes.com/2009/10/03/community-reinvestment-act-mortgages-housing-opinions-contributors-peter-schweizer.html
What Jamie Gorelick Knew



They should have been gone a long time ago. 

Anyway,  what prompted my interest again was a letter I received in the mail Saturday from my bank.  I have enjoyed "Scorecard Rewards" for quite some time.  I spend using my check card and I get a point for every dollar.  I have a very nice Hamilton Beach Food Processor and a couple of other things I got for free.  But not any more.  

According to Dodd Frank it's now a No-No to offer such rewards to customer:

 

This one has definitely hid behind the radar.  When most of us think of "Wall Street Reform", we don't consider ourselves a part of it.  Hold on.  We are exactly the ones who are affected by such intrusion of government oversight.  Anytime you hear your government arguing against the very ones they wine and dine with when we're not looking,  you should be alarmed.  And it doesn't take much to do a little bit of research, folks...

But let's take a quick look Dodd Frank (just saying their names makes me shiver with disgust)...

I found a cheat sheet prepared by Morrison and Foerster,


Among the many changes, like what I received  yesterday, you will find some interesting aspects of the bill.  Like the following:

1) Another massive increase in hiring just to discern what it is.  Like Obamacare, there must be enforcers. 
2) Very interesting:  Page 23:  Companies must disclose the median − annual total compensation of all employees (except the CEO), the annual total compensation of the CEO, and the ratio of the median employee total compensation to the CEO total compensation
Disclosure is required of whether any.

Find out more:  http://www.mofo.com/files/Uploads/Images/SummaryDoddFrankAct.pdf 

Why is the federal government requiring your pay to be disclosed to them?  Have you read "1984"? If not, go do so.   Big Brother is watching you.