Friday, June 25, 2010

CRASH: "Sandwich" Dodd Waves Goodbye With One Finger

Chris "Waitress Sandwich" Dodd, so corrupt that even Connecticut Deemocrats could no longer abide him, bid a fond "screw you" to Americans today.  He and Bawney Frank-lover, the two biggest banking whores in America, foisted off a vast pile of corruption calculated to ruin finances in the U.S. 

As noted here several weeks back--
Indeed, if you have a thinking brain cell, you understand that Dodd is the poster-boy for "why regulations don't, won't, and can't prevent X".  Whatever "X" is...and however you regulate to prevent it...when you have people like Dodd and those who bribe him, "X" will be a predictable certainty.  In fact, I can make a very good case that says that the more you try to regulate something, the more likely it is that when you get "X", it will be MORE damaging (see Home Financing Crisis).
Thus it is with Mr. Dodd's little parting gift for America (he owns a very nice little cottage in Ireland).  From sources as diverse as the HuffingPros to Reason, you can see ONE major thing wrong (and, boy, there are a lot of major things wrong) with the Dodd regulatory poison pill.  In a time when we need innovation and entrepreneurial activity as badly as at any time in our history, Dodd's proposing to make sure it is very effectively suppressed.  How?  Buy raising the barriers entrepreneurs have to jump to get to funding.  "Killing all angels" is a completely irrational and unnecessary move.  It isn't like this is an area of regulatory dearth under the current scheme.
Anyone who was hoping against hope that The Great Recession was over...your hope is effectively dead.  Obama and the Deemocrats have taken Cloward-Piven out of being a demand-side concept, and are targeting the supply-side, as well.

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