Banking Committee Chairman Christopher Dodd (D-Conn.) is a sell-out to
the banks. He has taken the stance that he is working hard for
financial reform. He is lying! The biggest money-making business the
big banks are in is derivative swaps. They account for trillions of
dollars more than our whole economy. They are the riskiest investments
that played a major part in the crash. Blanche Lincoln, not my
favorite Senator, introduced an amendment that would require banks to
trade derivatives through a clearing house so as to make the sales
much more transparent. Banking Committee Chairman Christopher Dodd
(D-Conn.) removed all the guts from that Amendment! There is no
penalty for banks to avoid the clearinghouse and continue to trade in
the dark. There is no guarantee that any clearinghouse would have to
accept the derivatives. There is just plain no teeth in the Amendment.
Banking Committee Chairman Christopher Dodd (D-Conn.) removed all the
teeth from the Amendment - a Dentist for the banks. MOST IMPORTANT,
this is the MOST IMPORTANT PART OF THE WHOLE FINANCIAL REGULATION
BILL. MOST PEOPLE WILL NOT NOTICE IT, BUT DODD HAS SCREWED AMERICA
ROYALLY and the banks will be forever grateful UNLESS Obama puts the
teeth back in. The more public exposure this fact gets, the better.
Banking Committee Chairman Christopher Dodd (D-Conn.) is a traitor to
the Democratic Party and the people of America and a flunky for the
Banks.