Immediately after the worst financial meltdown since the Depression, it appeared as though the national priority of fixing a broken banking system would ensure that the response would be swift and far-reaching. In stead it was suicidal an attack on business and a vast overreach. The most dangerous part of the bill is that it guarantees that there will be no further bail outs by the American people. The last bail out expensive as it was saved the U.S. Financial System.
The new Act provides "That no banks are too big to fail and it provides a mechanism by which the government can put large banks out of business."
What's wrong with that? Remember what happened when Lehman brothers Bank was allowed to fail? The entire U.S. Banking system collapsed.
Large financial institutions cannot ever be allowed to fail! If so no one in the world will ever again have any confidence in the American financial system. Just like the Unites States of America is “too big to fail!” So are our large financial institutions “too big to ever fail!”
The Financial Reform Act is nothing more than a repeat of Masada with Obama leading the charge over the cliff! Put someone in the highest office in the land with no management experience this is what you get! A nightmare!