Morning Bell: The Lawyers and Lobbyists Full Employment Act | The Foundry: Conservative Policy News.

Morning Bell: The Lawyers and Lobbyists Full Employment Act | The Foundry: Conservative Policy News.
Dodd-Frank Finance Control Act

Here is what we do know: it will be the banks and telco firms with the best lawyers and lobbyists – not the best entrepreneurs – that come out on top in this battle....

Then there is what the Dodd-Frank does not do: it does nothing to stop future government bailouts. Instead, it makes the TARP bailout system permanent. The bill’s “orderly liquidation” process empowers regulators to seize any firm they deem a threat to our financial system and liquidate them. These powers are subject to insufficient judicial review and do nothing to ensure that the firms’ creditors won’t receive 100% of their irresponsibly lent money back in future taxpayer funded bailouts. And speaking of taxpayer-funded bailouts, the bill does nothing to address Fannie Mae and Freddie Mac, whose activities were instrumental to the financial crisis.

This bill should also be called the "The Business Nationalization Act."