Liberty Central, “America’s Public Square” had a chance to interview Rep. Jim Jordan (R-OH#4) on the debacle of Wall Street Reform, AKA the Dodd-Frank bill. Rep. Jordan tells us everything that is wrong about the bill:
Per Liberty Central the three most important aspects of what is troubling about this bill is it:
- Creates a permanent bailout authority, ending TARP, but instead of using that savings for debt reduction as the law required, forces taxpayers to bear the costs of the new legislation,
- Sets up the federal government to micromanage the markets and overload them with regulations, and
- Continues to protect Fannie Mae and Freddie Mac.
This 2,000 page bill vests more power in administrative agencies and will raise the costs of living for every American with higher fees on our markets.
The Dodd-Frank Financial “Reform” bill that will give government control of up to 60% of the American economy dominated legislative activity in Congress this past week. The House of Representatives passed this bill by 237-192 and it heads to the Senate for a vote after the July 4th recess. Three Republicans voted for it: Cao (LA), Castle (DE) and Jones (N.C.). Fourteen Democrats voted against it: Boren (OK), Chandler (KY), Childers (MS), Critz (PA), Giffords (AZ), Hill (IN), Kaptur (OH), Kirkpatrick (AZ), Kratovil (MD), Minnick (ID), Mitchell (AZ), Nye (VA), Ross (AR), and Shuler (N.C.).
We must maximize the chances of 40 Senate votes in opposition to the Dodd-Frank Financial “Reform” bill in the U.S. Senate the week of July 5th! This is only possible with citizen voices being raised! Liberty Central has identified the following Senators as “targets” to call and tell them to oppose this bill:
- Hon. Scott Brown (MA) — (202) 224-4543
- Hon. Olympia Snowe (ME) — (202) 224-5344
- Hon. Susan Collins (ME) — (202) 224-2523
- Hon. Ben Nelson (NE) — (202)-224-6551
- Hon. Russ Feingold (WI) — (202) 224-5323
- Hon. Blanche Lincoln (AR) – (202) 224-4843
This bill is incompatible with the Founding Fathers’ vision of limited government, because it promotes the growth of government, expands the powers of the administrative bureaucracy, limits economic freedom, and promotes personal interests. Unfortunately, this bill vests even more power in administrative agencies and will raise the costs of living for every American with higher fees on our markets.
