Congressman Peter Roskam joined Fox Business’s Stuart Varney this morning to discuss the financial regulatory bill passed early in the morning. The bill is already being called “the biggest regulation rework since the Great Depression,” but this package empowers the same Depression-era regulatory regime with even more authority. Banks will lend less, Fannie Mae and Freddie Mac are not addressed and the Volcker Rule prohibits banks from proprietary trading.
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The socialist democrats are dismantling the greatest economy the world has ever known, the american free enterprise system and replacing it with a Hugo Chavez style socialist system. A 2,000 page bill that no one has read. Let’s see we own a car compaines, we have 20 billion in liens on an oil company,. We have nationalized the health care system. I wonder what Obama will add to his portfolio next..news paper maybe..or maybe the internet..control..control..control