It's A Very Bad Bill Scott!
Freddie & Frannie were at the heart of the financial meltdown, and you did nothing to rein them in with this bill. Senators Frank & Dodd devised Banking regulations that precipitated this meltdown by directing banks and mortgage companies to make loans to virtually anyone who asked for a home loan. These loans were bundled as derivatives and sold by Wall Street. Billions of dollars were lost when they were found to be the worthless pieces of paper they actually were. The bill you signed onto doesn't address this issue directly, it gives government far reaching unknown powers into the financial markets. The effects of this bill on the future of financial marketing can't even be fathomed by the Wall Street financial gurus of the Wall Street Journal! The only thing the 18 gurus I read about agree on is that the Freddie & Frannie issue wasn't addressed! You were hood-winked into signing up for the liberal/progressive big government - we can fix it agenda - by limiting the free markets, and giving as yet unknown/undefined powers to non-existing - to be created government agencies!
That's NOT the type of legislation I expected you to support when I gave you my hard-earned money! Please wake-up and smell the Constitution! It doesn't smell like this garbage bill you voted for! The banking regulations that fostered this financial meltdown are still in place. They force local banks, through lending quotas, to mandate loans to extremely risky borrowers. That's what needed to be fixed, and wasn't addressed by the bill! Freddie & Frannie live on to perpetuate the dream that every American is entitled to their own home, they aren't entitled to it, they have to earn it! And, not at my or your expense! It's a liberal/progressive wealth re-distribution scheme, and it's NOT constitutional to take the tax money from hard-working Americans and give it to others to fulfill some liberal/progressive agenda to put everyone into their own home, which is exactly what the root of the whole financial meltdown derived from Scott.............
That's NOT the type of legislation I expected you to support when I gave you my hard-earned money! Please wake-up and smell the Constitution! It doesn't smell like this garbage bill you voted for! The banking regulations that fostered this financial meltdown are still in place. They force local banks, through lending quotas, to mandate loans to extremely risky borrowers. That's what needed to be fixed, and wasn't addressed by the bill! Freddie & Frannie live on to perpetuate the dream that every American is entitled to their own home, they aren't entitled to it, they have to earn it! And, not at my or your expense! It's a liberal/progressive wealth re-distribution scheme, and it's NOT constitutional to take the tax money from hard-working Americans and give it to others to fulfill some liberal/progressive agenda to put everyone into their own home, which is exactly what the root of the whole financial meltdown derived from Scott.............
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