Patterico's Pontifications


Congress Passes Financial Reform

Filed under: Government — DRJ @ 11:57 am

[Guest post by DRJ]

Congress passed financial reform legislation today but very few people know what’s in it:

“Even so, 38 percent of Americans have never heard of the overhaul and 33 percent have heard of it but know almost nothing about the legislation, according to an Ipsos Public Affairs online poll. Another 18 percent said they know “a little bit” about the measure.

The Ipsos poll found 3 percent are very familiar with the legislation, and 8 percent are somewhat familiar.”

Passing legislation Americans don’t understand or know about? That’s par for the 111th Congressional course.


12 Responses to “Congress Passes Financial Reform”

  1. Why should the US public know any of it, when the typical Dem congresscritter understands little to nothing as well? Ten to one I’d wager that the usual response to queries on the bill are met with “we’ll know what’s in it after we pass it.”

    Dmac (d61c0d)

  2. Well, to be fair, this bill appears to have been posted in advance on the Congressional website for people to read, unlike several other pieces of legislation that the Congress has passed this session. It’s understandable, if disappointing, that more Americans have not taken the time to familiarize themselves with the contents. Of course, it doesn’t help when the media claim this bill will “limit a range of risky trading activities in a way that would curb bank profits.” Another way to say “curb bank profits” would be “put the brakes on economic activity,” but trying telling that to your typical Democrat or journalist (but here I repeat myself).

    JVW (a52530)

  3. Sigh, another 2,000 behemoth which hasn’t been read by those who passed it. It is vague about the details so as to allow the regulators themselves to take this blob of silly putty and make of it what THEY wish and then enforce their wishes on us.

    Why the hell do we need Congress when a modern version of the Wizard of Oz with a word processor would suit Obama just fine. Whisper in his ear what you want, he cranks it out with using a vague template, and stamps it as “deemed to have been passed”, and off to The Won’s desk for signing. We could turn the Capitol building into a casino or fun house.

    in_awe (44fed5)

  4. nothing but bad will come of this.


    Aaron Worthing (A.W.) (e7d72e)

  5. Well, now that the bill’s passed, can we take a look at the Section 342 which the MSM has carefully concealed from public notice?

    The section that imposes 20 new Federal bureaucracies to impose PC conditions on private businesses? Like race-based and gender-based quotas for employment?

    Nothing makes the Obama administration, and its toadies in the MSM, look worse than these heretofore-concealed-from-the-public race and gender quotas.

    Insufficiently Sensitive (8906ed)

  6. So instead of emergency government bail-outs and take-overs, we’ll have everyday government bail-outs and take-overs.

    Wow, so that’s what “reform” means.

    Socratease (28b29b)

  7. Another two thousand pager. With lots of details left for appointed regulators and politicized non-senate- confirmed czars to flesh out at their whim. And lots of pieces that have nothing to do with financial reform whatsoever. Oh goody.

    elissa (40cbc5)

  8. We’re going to be sorry.

    htom (412a17)

  9. This bill doesn’t impose any further restrictions on Fannie Mae or Freddie Mac, the two biggest culprits in the mess.

    Some chump (e84e27)

  10. Well. They covered their @$$es. OK…what’s for lunch?

    TimesDisliker (082ec1)

  11. Heck, even Dodd said he didn’t know what the bill will do, but by gosh, it will be good the next time the economy tanks.

    Thanks, Senator.

    Ag80 (363d6e)

  12. And remember the illustrious behavior of two of the main spnors of this bill, Chris Dodd and Barney Frank. The way they posture with such disregard of the truth would make them dangerous poker players.

    Hasn’t the Supreme Court ruled that strict racial quotas in college admission are not allowed, and can’t those parts of the law be challenged?

    I think Boehner has already said they will try to repeal this after the next election if repubs win.

    So much for thinking Scott Brown was more with us than against us.

    These guys could stand up and say this law will make it possible to by a house for less than $10,000 in any neighborhood you want and the MSM wouldn’t callenge it and a hefty number of people would still believe them. There may be only one sucker born every minute, but otherwise nml people seem to join them at an astonishing rate.

    MD in Philly (3d3f72)

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