Financial Reform Bill: Yet Another Democratic Power Grab

The House of Representatives recently passed a huge "financial reform bill."  The bill is, like the "America’s Healthy Future Act of 2009," thousands of pages long...and no one seems to know exactly what's in it.  I guess we'll find out when it's passed just what kind of damage it does to the economy...

However, there are a few intrepid people who are attempting to wade through this monstrocity of an a abortion called "reform."  On such person is Diana Furchtgott-Roth.  Perhaps the most frightening thing she's discovered thus far is racial quota's that will be mandated by the Federal Gov't in all banks that do business with the government (read ALL BANKS)...

Section 342, which declares that race and gender employment ratios, if not quotas, must be observed by private financial institutions that do business with the government. In a major power grab, the new law inserts race and gender quotas into America's financial industry.

So what this means  is that quotas will be imposed upon all financial institutions in this country.  These quotas will be imposed regardless of whether or not the individuals concerned are actually qualified to do the jobs, but they will need a particular ethnicity...

In addition to this bill's well-publicized plans to establish over a dozen new financial regulatory offices, Section 342 sets up at least 20 Offices of Minority and Women Inclusion. This has had no coverage by the news media and has large implications.
The Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the 12 Federal Reserve regional banks, the Board of Governors of the Fed, the National Credit Union Administration, the Comptroller of the Currency, the Securities and Exchange Commission, the new Consumer Financial Protection Bureau...all would get their own Office of Minority and Women Inclusion.

This will add yet another layer of government paid bureaucrats who will be paid from the public trough and will be able to make rules on who can be hired or fired...just what we need is more damn people on the government payroll. 

Each office would have its own director and staff to develop policies promoting equal employment opportunities and racial, ethnic, and gender diversity of not just the agency's workforce, but also the workforces of its contractors and sub-contractors

When will it stop?  Only when the government has taken over control of all facets of the economy...we've seen how well that worked for the Soviet Union and People's Republic of China...one no longer exists and the other has adopted a free market economy.  The Democrats will never learn until they turn us into a pale shadow of the government controlled economy of Cuba  and Venezuela (by the way how are they doing these days?).  As Margret Thatcher once said, "It's easy to be liberal with other people''s money."  The only problem is that we just don't have any more to spend...so we're spending our great-grand children's.