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  • Morning Bell: Dodd Bill Creates Permanent TARP and You Can Quote That

    The Dodd-Obama Permanent TARP

    In mid-October 2008, at the height of the Presidential campaign, Heritage Foundation analyst Rea Hederman began receiving emails alerting him that he was a star in a new multimillion-dollar ad campaign for then-candidate Barack Obama. The ads claimed that Hederman believed the middle class would be better off under the Obama tax plan. Nothing could have been further from the truth. In fact, Hederman’s analysis of the Obama tax plan found the exact opposite: that Sen. John McCain’s (R-AZ) tax plan would produce twice as many jobs as then-candidate Obama’s plan and leave middle-class families with, on average, $1,500 more in after-tax disposable income.

    Now President Obama’s minions are at again, blatantly misquoting Heritage Foundation analysts in a desperate attempt to make their far left big government agenda appear to be centrist. This time the culprit is Deputy Secretary of the Treasury Neal Wolin, who told a U.S. Chamber of Commerce summit this week:

    On Monday evening, we took an important step towards final enactment of financial reform. The Senate Banking Committee has now voted out a comprehensive bill. Along with the bill passed by the House last December, it represents a strong foundation on which to build a safer financial system.

    This should not be a partisan or ideological debate. As David John of the Heritage Foundation has said, “Taxpayers should never again be forced repeatedly to bail out financial services firms like AIG because a company poses a risk to the entire financial system and regulators lack the necessary tools to close the company safely.”

    The quote is accurate; The Heritage Foundation does believe that we need financial reform that will ensure taxpayers never again have to bail out Wall Street, but it is 100% false to insinuate that Heritage believes the bill written by Sen. Chris Dodd (D-CT) and passed out of committee this week is the solution to that problem.

    Here is, in fact, what John has written about the Dodd bill:

    The Senate Banking bill proposes to create a new $50 billion fund to be used in “emergencies” to close or restructure failing financial institutions or those perceived as being in danger of default. This fund is certain to be used for bailing out any politically significant financial institution and is nothing less than a permanent TARP program.

    Despite rhetoric about using bankruptcy for most failures, the draft makes it clear that this is to be handled through a bureaucracy subject to political pressures, since the bill also does not include language adapting the bankruptcy process to the special needs of complex international financial institutions.

    In other words, not only does the Dodd bill not prevent future taxpayer-funded Wall Street bailouts, it virtually guarantees them forever. Just as the original $700 billion TARP fund quickly devolved into President Obama’s personal slush fund, the Dodd bill empowers the Treasury Secretary to take over and liquidate any financial firm at any time, and no one can stop him. The Independent Institute’s Peter Klein adds:

    Perish the thought, but suppose a secretary of the Treasury has a crony who really wants to buy an investment bank on the cheap—and will provide some future quid pro quo. Pick a time when equities are down and you could make a case that a financial company is wobbly. Voila, it gets liquidated in a fire sale.

    And so it is business as usual in the Obama White House. The empowerment of big government, the enrichment of cronies, all justified by phony bi-partisanship and centrist rhetoric. Don’t be fooled. The Dodd bill and the Obama agenda take the worst of our current financial system and puts it on steroids.

    Quick Hits:

    Posted in Ongoing Priorities [slideshow_deploy]

    63 Responses to Morning Bell: Dodd Bill Creates Permanent TARP and You Can Quote That

    1. John Lindsey, Winter says:

      Let banks or financial institutions fail. No one is to big to fail. It is not the role of the Federal Government to rescue "Private" enterprises. It is time to shut the government bailout programs down.

    2. David Beaird, Keokuk says:

      National Socialists such as Senator Chris Dodd and Congressman Barney Frank orchestrated the housing collapse which caused economic ruin in 2008. These two public officials alone are in control of the two most powerful committees in Washington D.C. Together they are setting the American people up for yet another economic catastrophe – the confiscation or destruction of retirement funds for people over the age of 55. Thank God Chris Dodd is retiring, but Barney Frank is still in power. He needs to be voted out of office when he comes up for reelection.

    3. MJF, CT says:

      My apologies to the People of America for Senator Dodd (D-CT). The Senator is totally incompetent and should never have been re-elected to the Senate. He failed at his job once and the entire financial system almost crashed. Now, he is making sure that we will never forget him. He and all of the other Liberals think that the government is the answer to all that is wrong.

      The government has no business in the private sector for any reason. Any time the government gets involved with the private sector, everything turns into a shambles. I have said many times, the government cannot run itself so why does it try to run other entities?

    4. Ron Derry NH says:

      All trees bear there own fruit.

      Corruptor's present corruption and can not help their ensuing results of more of the same.

      We are faced with a corrupt Congress, a corrupt leadership, using the tools of corruption to weaken all the assets of reality to their corrupt advantage and in the end, we will be ruined form it.

      Do not expect foundations of solid recovery or solidification of worth that would stabilize our dissent from those who have lied, perjured and defrauded the American system and you won't lose sleep over the mess they are weaving.

      This nation is at its peril, waiting for the grand collapse of its monetary system and these defrauders are doing nothing but ushering in the laws to enslave the masses to the whim of the lenders, by devising schemes that prevent worth from being an actual solid achievement of economic value. We will not be saved from calamity by those that have created it.

      November is a long way off when the thieves are at the door.

    5. jim smith new york says:

      Now, Dodd becomes our very first retiring Facsist Financier. Little Timmy becomes Secretary of "Votes For Sale" and Nobama goes on yet another vacation while Michele officially christens the Banana Split, "a healthy fruit dessert".

    6. Mary.... WI says:

      There must be a way to play the same game these radical libs are playing. I can't help but think that during the Bush term someone, Geo Soros comes to mind becuase like BO he DOES NOT LIKE the USA, had devised a plan to take this country down. The left cleverly turns around most of what the right says and uses it against them at every opportunity, they filibuster at most of the interviews I've seen NEVER answering the original question, and most importantly they snub their noses down at the American people, (even Mr Ken Jarvis who hasn't realized it yet), because we are all nothing more than pawns in their quest for total power.

      We are slowly becoming Venezuela.

    7. Carol Essman, Topeka says:

      I do so appreciate receiving this important information from the Heritage Foundation. I contribute to Heritage because I believe in your guiding principles. Where do others, who do not receive Heritage information, find out about these misquotes and falsehoods?

    8. S. A. Johnson, Chatt says:

      Well, is The Heritage Foundation not going to publically challenge Neal Wolin to his face about his disgraceful abuse of Mr. John's words, or would that discourse be too uncivil?

    9. Ken Jarvis says:

      How much do HF workers make?

      I would think a LOT since they spread so much BS.

      Why don't they ever answer questions posted here,

      or send me an Email.

      LVKen7@Gmail.com

    10. Blair, Franconia, NH says:

      Well, since the Democrats dried up the Social Security slush fund, I mean trust fund,

      they need a new slush fund. TARP is that new slush fund, unfortunately. Here's a thought: Privatize Fannie and Freddie, privatize Social Security, if it worked for the Chileans, it'll work for us, and privatize Obamacare. What could be wrong with that?

    11. Drew Page, IL says:

      Heritage seems surprised that the current administration is not telling the truth. How could you ever suspect the motives of someone as reputable as Senator Dodd?

    12. Jim Roumeliotis - Hu says:

      Well well well. Another masterpiece of creativity in our nations legislative think tanks. Will this administration ever create a bill that can actually help the American people? To allow further bail-outs is to welcome the practices that helped get us in this position.

      I can't wait for tomorrows piece of cranal exercised effort.

    13. J Todaro, Louisiana says:

      Perhaps we need to remind the American public that the first letter in TARP stands for TOXIC.

    14. Paul Schwab , Center says:

      These people will not stop. They want complete power and control over all. They will not listen to anyone who opposes their views.

      The worst thing our nation did was to elect a majority with President and Congress.

      The Country is now in hands of Chicago Thugs, who do what they want, when they want, and do not consider others' views or opinions, regardless of how this Country will be hurt. Our children and their grandchildren will be paying off the debts that these thugs originated. We have, for sometime now, been allowing the PROGRESSIVES to move their programs forward. We have been blind to what they have done. Starting with our schoolchildren. they have advanced their movement in ways that we have not recognized. God help us.

    15. Anthony Santucci says:

      The Obama admistration has been projecting so many lies that they themselves have come to belive that it is the truth. All resonable checks and balances are being throw out the window. Heritage needs to continue to hammer against the Obama admistration and continue to let all Americians know what is false and not true.

      However I think the Obama admistration has a deaft ear to any concerns or any ideals of any one else besides themselves. It seems it is their way or the highway. I think the only sound recourse we have is to work to remove this adminstration out of the White House if we are going to have any hope of keeping Americia free and independed, and hope it won't be too late.

    16. Michael J. Curran says:

      With the advent of the Dodd bill and in response to John's article on that bill it would ultimately mean that should the governemnt deem it neccessary they could close businesses at their own discretion. Once fiscal insolvency manefest itself those in power could use the TARP savings account to liquidate assests, cut employment, and send ripples of fear throughout the buisness world.

    17. Lloyd Scallan - New says:

      Obama and his Democrat lackeys are now in full attack mode. This is the Cloward & Piven tactic from the '60's to "overload" the system. Their plan is to throw so much at us at one time, we will just give up and submit. As stated in the past, these people will not stop. We are in a war for the very survival of

      our American way of life. Unlike what many of the right wing talk shows are

      preching, it's going to take more than just words to stop these people.

    18. Jan Metairie LA says:

      Does Sen Dodd realize we DON'T HAVE $50 Billion?….or is he just stupid?

    19. Dem Loveall- Upstate says:

      Obama and his followers are liars, cheats, and thieves……they are not Americans……..I am sickened by their actions against the American way….I love my country…I love my flag….I love the men and women who have sacrificed their lives for freedom….I love Apple Pie and Hot Dogs….and Baseball…and anything that shows the freedom and love we have stood for for the last 200 years……GOD BLESS THE USA and to hell with the losers who don't! I wil not shut up……I believe in this country……

    20. ted irvine san marco says:

      Look at the creation of One West out of IndyBank and look at the financial principals – does George Soros have a role here?? Regulators 1st show up, re-classify loans arbitrarily., demand more capital, close down bank – sold to friends like One West. Administration detests dealing with thousands of little banks and finds them unnecessary. Conveniently, they have no clout and with every change in regulations they are being run out of business.

    21. Geraldine Gerdes, Co says:

      This is frightening even for a person who is not a financial expert. It tells me that we have to be vocal and support the candidates for elected office who believe in the Constitution and will stand behind it.

    22. Susanna, Kansas says:

      …………………and the money comes from…………where?………..and the original TARP money came from…………..where? Common sense says when you get the money back from where you "borrowed" it, you return it. We must stand firm against these attacks against our Constitution and our good, moral principles. Never give up. Never give an inch. Never get sucked into their rhetoric (lies). I'm giving them the same kind of respect they are giving us. None.

    23. bigdave, ocala fl says:

      I believe our BILL OF RIGHTS allows AMERICANS to DISPOSE of a CORRUPT GOVERNMENT and install a NEW ONE. Its time to start the process before we are so far in the hole we can never get out. Liberals are like drug addicts who do not realize their dilemna until they have hit bottom. We conservatives KNOW THE RIGHT THING TO DO SO WE "DO NOT HIT" the bottom. So, regardless what we do the libs are going to complain. Time to deal with them head on…accept our CONSTITUTION or go to another country. We do not need hyphenated Americans, America is FOR AMERICANS! I am tired of hearing about the "black community"! That is direct from race bating libs who want to make every ethnic group victims of whitey or America itself, when there is NO OTHER place in the world where so much opportunity abounds in both the private and political sector so why do DEMORATS TRY TO CHANGE THAT? POWER! Time to treat the destructive democrat party the same way they treat republicans…as the ENEMY THEY ARE! Their only interest is themselves, NOT THE PEOPLE! Its NOT what they SAY that counts its WHAT THEY DO! Like DESTROY JOBS, DESTROY FAMILIES, DESTROY CHRISTIANS, RAISE TAXES, GIVE OUR MONEY AWAY, INCREASE THEIR OWN PAY WHILE OURS DECREASES!!! AND MORE DESTRUCTION , but with insincere promises.

    24. Ken Jarvis says:

      HF – Tomorrow's Article – about HOW this is BAD.

      "President Obama announces U.S. and Russia agree to new nuclear weapons reduction treaty."

      LVKen7@Gmail.com

    25. Ken Jarvis says:

      For HF readers that might have missed it.

      HCReform Passed.

      Did HC, FoxNews, Rush, or WSJ cover it.

      NOW WE HAVE HCARE FOR ALL.

      Thanks you Mr. Prez.

      LVKen7@Gmail.com

    26. KB Hahn, PA says:

      Of course they are going to misquote, distort, lie … it's their stock in trade. Nothing new there. And what do we do? We jump up and object. And they laugh and shout, "Overruled!" And then they start misquoting, and distorting, and lying with even more passion and volume, and what do we do? Object. They laugh, declare victory, damn the torpedoes, and yell, "Full speed ahead!"

      He stands up, yesterday, in Iowa City, and mocks us. Ridicules and belittles us. Does he employ substance? You say, "Well, he can't. He doesn't have any." Right. He never has had. But when has that stopped him? Any of them? Substance is of no moment to them. And apparently, in the face of an adoring mob of liberals, whose defining characteristic is to remain steadfastly unplugged from reality, he doesn't need to supply substance. Just crank up the "Yes we can!" mantra. Who needs more?

      Man, the price we are paying for having played into their hands all these years. Incredible.

    27. Reta Richardson, Nin says:

      After reading the other readers' comments today, I give up. Heritage Foundation attracts only irrational thinkers and rabid haters–just like Fox News. I expected more truth and intelligence from this website when I signed up.

    28. Robert Close, Florid says:

      Only one comment:

      the senate banking commitee seems to have forgotten that congress not the american taxpayer was responsible for the wall street bailout. the situation did not force taxpayers to bail them out, lawmakers did against the will of taxpayers. also the senate banking commitee was responsible for creating the entire crisis.

    29. Not Impressed says:

      I am so surprised aren't you?

      All the kings men are on board with this I'm sure.

    30. Babs CA says:

      It is clear this Administration has focused firstly on taking over the financial institutions in order to gain control of all the money. We have Taxation without representation. The waste is unbelievable. We the people are being positioned to be at their mercy for handouts at their discretion.

      They are distorting all information, i.e., moving forward with Cap and Trade, nevermind that the concept of Climate Warming is a Hoax. There is no control over immigration and Amnesty for 'Aliens" is a disaster.

      What I fail to understand is, why can't this be addressed legally because the actions are not Constitutional?

    31. Mike says:

      Impeach Obama.

    32. Everett - Houston, T says:

      Please keep images out of the Morning Bell. It's bad enough that we have read all the"great news" from our leaders but to have to look at them as well is realy "too" much.

    33. Carol Wilson Bluefield, WV says:

      Fellow Americans get ready for Obama to become the frst dictator of this used to be greaetest Nation. on the planwt.

    34. Sandra, California says:

      Thank goodness for The Heritage Foundation! Otherwise, I would be forced to become politically 'educated' by big-name media corporations, some of which just might have their own hands in the Federal Financial Pie. Who knows?

      This administration is making history, all-righty. Unfortunately, their legacy will not empower Americans and their future generations to make their own decisions regarding that which is right, is just, is true, is common sense, and just plain American.

    35. Thomas Curtis Apple Valley, CA says:

      We only have 220 days left until we can make a change WE believe in for this great country of ours. TIme once again to put our words into works and elect the canidates that represent our values . Don’t loose hope. That’s all I have to say about that.

    36. david bartley, memphis,tn says:

      these are desperate times and require desperate measures. by that i mean we all need to reflect on the past and who made our nation great. it was our forefathers belief in God and His providence to give us this land to use for good in this world. that is why for generations we have thrived as a nation. but just as He turned away from Israel when they rejected His laws and teachings, He is calling us now to repent and turn back to Him. politicians come and go. our form of government allows both good and bad to lead us. the Bible says that God uses them for our good, and we should pray for our leaders. but when these “leaders” want to push us away from God, and remove His influence from our institutions, it is time to fall on our faces before the Almighty and with humility seek His wisdom.

    37. Jean Groen Apache Junction, AZ says:

      That is not Obama’s personal slush fund. That is MY money and YOURS! Obama has never worked at a real job…and watching the health care bill get passed, I’m sure everything he does is illegal, immoral, or death to middle class workers!

    38. Jjay - Louisville, K says:

      It's sort of like, we just don't get it do we? This is a democracy. Majorities win and we move on. We teach our young to lose gracefully and as adults, we spit on the winners.

      We 'teach' our young, if you lose, you go back on the court and shake hands and lose gracefully, with honor. As adults we threaten the winners and even their families. We 'teach' our young to CONGRATULATE the winners. As adults, we tell the winners "Go f*** yourself!"

      We 'teach' our youth, if we lose, we work at our skills, try harder and keep trying to get better. As adults we yell and interrupt the other with "You Lie!" and "baby killer!", then use the opportunity to say "I misspoke, and by the way can you send me $25 or $2,500 for my campaign to keep doing this?"

      We have some work to do folks and part of it is to see that NO member of Congress gets their position FOR LIFE. This is a service to citizens of this country, NOT A CAREER. Term limits and all legislation should be applicable to all in public service and should be enacted before the next presidential election.

      All sides of the aisles would benefit by making sure those who go to Congress do not get to a point that they think they know better than the people they represent. We are in an age where public opinion can be registered immediately in any Congressional office when a representative or senator needs (or really wants) to know.

      See if your "representatives" are willing to give up their seat to better serve the people of your state or district. THEN you will see who is in it for themselves or for the people they 'represent'.

    39. Unk.E says:

      It really is a disgrace. This country simply cannot survive with elected Democrats of this ilk (socialists) in office. I pray the rest of our countrymen have the good sense to kick these scumbags to the curb before it is too late – if it is not already.

      A little something to lighten the mood. Hilarious breakdown of the Obama HC photo-op. Enjoy: http://bit.ly/dmZgQD

    40. John Ottley, Jr. Atl says:

      It may be the sincerest form of flattery, but thanks for setting the record straight. At least they're not ignoring you.

    41. James P. Smith, Sr, Dayton, OH says:

      It is now clear that the Legislative Branch of government has become nothing but an extension of the Executive Branch. Not exactly what the Founders had in mind when they attempted to establish a system that would provide checks and balances within the federal government. When Rahm Emanuel said, “Never let a good crisis go to waste”, he might have added that with each succeeding “crisis” that we create we can move closer to the utopian state envisioned by the “progressives”, if only the “crisis” is solved by developing legislation that expands government control over the people.
      In my view, the Den of Marxist Evil-doers that the White House has become will continue to press their big-government agenda by using lackeys such as Dodd, Frank and others of their ilk to attempt to foist their outdated and failed philosophy on the American people.

    42. RICH IN PITTSBURGH says:

      Looks like any business owner that stands up against the administration can be wiped out. Big brother throwing his weight around. Can it get any worse?

    43. randy, germantown, tn says:

      Simplify the message. Conservatives must consistently present one clear message to America. It’s time for personal responsiblity, not governmental responsibility. Less government, more freedom.

    44. Dennis, Missouri says:

      How can you say you're not a socialist…look at what you're doing and who you have yourself surrounded with. Do you believe we are blind or ignorant or both? Please remember you SWORE ON THE BIBLE to protect and defend the constitution. Do you think you've been doing that? I don't. Trust me, there is life after this one. If you don't believe in forever, then tell me what's on the other side of out there.

    45. Judith in Michigan says:

      We are at a point , after only 14 months of this current administration, that every single thing they do is suspicious and will have a negative affect on The United States.
      I am amused that those who attack HF can only name-call and blather about vague falsehoods while not giving any concrete points or definitive facts. This column is an excellent example. What part of it is incorrct? HF gives actual facts and documentation.
      Give it up, trolls. It isn’t working. You are not changing the minds of those of us who come to the HF website for factual information, and can actually investigate and study issues for ourselves. We can see right through the deceptions of Mr. O & Co, including Mr. Dodd. You are only inforcing our opinions that liberals must resort to lying and are extremely foolish.

    46. Chet, PA says:

      As usual, all dums lie, like a rug.—-Take it from me, someone who used to be a Democrat, but left the idiotic party after the deaths of John and Bobby Kennedy.

    47. Nancy, Wilmington, NC says:

      I recently saw Chris Dodd and Barney Frank on TV, apparently, making deathless pronunciamentos. Whatever they were saying, I muted the sound to quell the wave of nausea I felt at seeing them standing before cameras being taken seriously as spokesmen for the American people. My immediate thought was, “Why aren’t these corrupt individuals in jail or, at least, not in office?” Democrats hounded Sara Palin out of office with spurious ethics charges. Meanwhile, the Dems routinely and openly flout the law with impunity as they conduct government business that critically affects our lives. I guess, the only justice they care about is “social justice.”

    48. Sandy Clary, Hilltop says:

      Reading your article today reminded me of Ayn Rand's "Atlas Shrugged". Boy, did she have insight?

    49. CT Angelamarie says:

      MJF, CT

      It seems that Dodd's Healthcare/Obamacare bill wasn't enough for him to mess up. We are seeing ,before our eyes ,that it is the worst piece of legislation in our 200 yrs.

      Now Dodd is trying to rectify his tanking of the banking situations with another takeover. CT finally god rid of him at the voting machine; however he has now become another of BO's Chicago style thugs. We here in CT have NO representation in Washington. People would truly like the elections to be tomorrow.

    50. Zack says:

      85% of all lenders subject to cra had no corrisponding rise in bank failures.-fdic reports. cra and other government regulations over all lenders and banks in the entire country made up of less ten 15% of total housing market share. so that leaves 85% of all lenders subject to a complete free market based economy. when did 15% become larger then 85%. when will conservatives stop blaming a free market collapse on a government espically in the housing market. besides which government progarms "forced" banks to offer 500,000-million dollar loans to low income borrowers? the average loan under cra was less then 300,000. its all talking points. also, 5.5 trillion added to the debt under republican congressional control and president bush. both tax cuts passed by (reconcilation) under republican congressional control and president bush- very conservative policies. both bills will add another 2.5 trillion to the debt plus the 500 billion for private contracts for "operation iraqi freedom". thats over 8 trillion added to the public debt. 97% of all convicted terrorists were held in federal court for the last 25 years+ stimulus is praised by over 130 conservative congressman in their districts. and without bailouts and government intervention why wouldnt the unemployment rate be over 14-15% instead of stopping and going back under 10% why wouldnt jobs losses be over 700,000 per month?, instead of 60,000?why wouldnt gdp drop further instead of gaining 2 points?. and healthcare- its so simple. all the recepients of both bush tax cuts will pick up the tab. the commerce clause approves it and the people want it. healthcare is a right. obstructionism is a unfortunate right. heritage is really falling apart at this point. i give a strong conservative base another 2 years before it just about dies which it should. this conservative movement is too extreme and filled with mis-information. nothing in more un-american and against freedom then what these conservatives and tea-party's have produced. lies and hypocracy.

    51. Sandy Clary, Hilltop Lakes, Texas says:

      Reading your article this morning reminded me of Ayn Rand’s “Atlas Shrugged”!

    52. S Rubicon, Southcentral PA, USA says:

      Dodd & Frank were primary contributors to the foundational problems that caused this financial fiasco. There were RINO’s who enabled them. Otherwise Barney Frank could never have gotten away w/ statements like “Fannie & Freddie are financially sound”, even just one year before the bottom fell out. The Community Reinvestment Act allowed & even demanded banks make loans to people who were not financially solvent & had no chance if any of the terms of a loan changed. Obviously, many terms changed. ARM’s were given out to those who had no possible way of ever meeting the obligation once rates went up. Many expected the housing market to never go down. That logic was as empty as those foreclosed homes now are.
      Banks were even coerced into making loans to ‘illegal aliens.’ Wanna bet a number of those loans defaulted when an illegal moved or was deported? How many remaining family members picked up those payments. Allowing aliens to buy American real estate is not the issue. Allowing a poor credit risk to contract for more than they were capable of paying back under normal conditions, is stupid & no law should have ever required a minimum number of loans be made to specific income groups, when their legal residency status was never brought up during the application process. Its happened & it was dumb. The banks should have refused. They were intimidated by the feds who said, we will have activist groups fight applications for expansion, or for acquisition, etc., and just make your life miserable, while also portraying the bank as that evil money handler outfit! That worked. Bankers hate bad PR But it was seriously dumb and massively irresponsible for the feds to push those loans. And they added up to huge sums of money. Then, to make it worse, rating agencies actually rated those packaged loan portfolio’s look good with AAA ratings where single A was called for. As that escalated, the values escalated & finally, the values of houses went down & the portfolio’s became near worthless.
      Barney Frank & Chris Dodd counted on being able to dump the loans on the taxpayer. They knew this would happen. They used that as their safety net. They may have even encouraged so many loans it all fell apart. After all, isn’t it a good socialist policy to create a crisis, create havoc, and them they rush in like a hero to save the day w/ their new & improved government controls?
      Was this all orchestrated? Perhaps not. But, with Soros as a known currency manipulator, with socialists in congress like Dodd & Frank (plus others not so obvious), what we got was a typical socialist activist movement when the crisis came to be. The only question is, did they plan the collapse?
      Personally, I suspect they & their cohorts did. But I cannot prove it & it appears no one is trying to forensically investigate this. Maybe one day someone will.
      Putting Dodd, or Frank, in charge of reforms is worse than putting the fox in charge of the hen house. They are dangerous in the extreme. They also will make sure any & all control will be w/ government, plus all responsibility will end up with investors, with the public now the last resort.
      Poorly written regulation’s and regulations written to satisfy suspiciously influential activist special interest groups, plus with serious input from the globally greedy, what we got was ugly regulation. We had enough, it was just bad, bad, bad.
      Dodd will now give us the new, improved, socialist inspired regulation that Democrats want to impose. All government, all the time. Its a waste of time as usual.

    53. Kathleen, Bakersfield says:

      Just a note. The Drudge Report had an ABC article about John McCain refusing to commit on Arizona’s law on Amnesty, with 300+ comments. After my first one under name “afraid for the country” that was responded to (so they could hardly make it disappear), my response and several subsequent blogs disappeared almost immediately after being posted. So apparently It is a bridge too far to raise the question as to why President Obama would, in open defiance of the overwhelming objection already voiced by the American electorate, choose to push Amnesty when the country is reeling, wounded and exhausted, from the healthcare debate, thereby setting into motion another agonized upheaval in this nation. Why would he do that?

      Sorry to be off the subject of this article, but I hope this gets posted, but I will understand if it doesn’t.

    54. Gary Cave, La Porte says:

      When I joined up, you mentioned free pocket copies of the constitution. that was 10 days ago. I'm still waiting for mine. how long should it take for them to arrive? Tnx. Gary Cave.

    55. Rhoda141 says:

      Dodd needs to be Impeached, thrown in jail and throw away the key for this permanent Tarp situation. I honestly believe the Lord will bring his wrath down on all these corrupt people that are trying to bankrupt the American people. After all of the Idiots having a good life on our money, and then want to do America they way they are trying to do. I believe when all of these Idiots in the WH are Impeached and we can get people that know what they are doing in the WH that there is alot that can be changed, just like Obama and all of his Idiots have done with this government takeover, and shred our Constitution all to pieces. There should be a major change within the WH to insure that the Constitution will be following all the way through, including no big government, no Earmarks, No Pork Barrel spending. Making sure we have a ) Deficit.

    56. Billie says:

      Let's not forget what TARP really means…COVER!

    57. Carole Bishop says:

      Senator Dodd should be ashamed of his actions! He is listed as one of the most corrupt Senators, which includes Senator Franks…who together, has put all condo owners in a "dead zone"..regarding their actions, whereby, no monies, mortgages etc. will be paid, or allowed for mortgages on condos! Is there NO one in Washington willing to step up to the plate to stop such actions by these men?

    58. Pingback: How To Create Bailouts Forever | The Foundry: Conservative Policy News.

    59. Pingback: While You Were Sleeping: the Dodd Bill « Scott Rhymer: Historian and Writer

    60. Pingback: Morning Bell: There is Nothing Conservative About This President | The Foundry: Conservative Policy News.

    61. Pingback: floridakeysteaparty.com | Blog | Senate Bill 3217

    62. Jim Clark 3675 Keyst says:

      KEEP YOUR HANDS OUT OF MY WALLET.

      CUT TAXES BRING MANUFACTURING BACK TO THIS COUNTRY

      WE NEED JOBS NOW.

      WE ARE A REPUBLIC GOVERNMENT, NOT A SOCIAL COUNTRY.

      ALL GOVERNMENT EMPLOYEES SHOULD TAKE A 50% PAY CUT,

      BECAUSE THEY DO HALF THE WORK OF THE PRIVATE SECTOR.

    63. Lindsey says:

      We need to eliminate income tax and go to the Fair Tax. Also, No bailouts ever!!!!! TARP was the mistake of a lifetime for this country and cost McCain the election. If we let the banks fail that deserved to we wouldn't be in the mess we are now in!!!!!!!!!!!

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