Pass the Financial Reform Bill!

Posted: April 19, 2010 in Political Commentary, The Blog!

Ah, the Financial Reform Bill. I will be blogging more about this in the upcoming weeks, however I had to throughout my 2 cents on it now. Basically the idea of the bill is to prevent future big bank bailouts. The reform will stop the banks from hitting the customers with sudden credit card interest rate hikes, hidden bank fees and predatory loans. It also gives the Treasury Department the power to force any bank into bankruptcy if they are failing without the chance of another bailout while at the same time create a $50 billion dollar fund to cover the bankruptcies, funded NOT BY THE PEOPLE, but by the banks themselves. Obviously their are a few other details but those are two of the major issues. Now the problem with this is that of course the bill has to go through congress, and without fail, like clock work, the big bad GOP as an issue with this. The Republications claim that the bill will due the opposite, saying that it will guarantee another big bank bailout, even with the opposite written right in front of them in black and white and being conservative republications, you would think they would be able to tell that difference between black and white. Hopefully this passes, if so , Obama can than get this behind him and focus on getting the job market more secure, the troops home from Iraq and make progress on the climate bill to help with the global warming issue in the country. Don’t worry though, the GOP will complain about that too, because according to most of them, global warming doesn’t even exist. Oh ya that’s right, why believe science and facts right? Silly me…

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