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Daily Archives: June 9th, 2017

Apparently we Americans are so used to “BS” in the news and from our elected officials that we cannot see the truth even when it affects our day-to-day lives. We elected a scammer based on BS much like we elected members of Congress on the same basis. Now we have another “Watergate” situation brewing. While all of this is happening our Congress is busily working to impose more burdens on the least of us by altering or eliminating current Health care (ACA) and financial protections (Dodd-Frank). I cannot personally speak for everyone but I can offer my opinion based on what I have read, remember and read daily. Our political system was designed to offer a method of  having all citizens represented along with their views. What we have come to is 535 seta fillers whose views are not always ours and who make every attempt to insure us that they are looking out for us. According to history, if you tell a lie long enough and often enough it becomes the “truth”, then we had a world war with the murder of millions of  people based on ethnicity and birth. Now we have a similar scenario in several countries producing millions of murdered and displaced individuals based on the same standards. The difference is now we have instant communication where the truth is often misread or obscured by true sounding lies. Our current local and national administrations at not good for us much like overeating or smoking.

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If the banks and insurance companies were more trustworthy there would be no need for Dodd Frank or Volcker. Our Dupublicans do not have the interests of the oft quoted American people in mind when the legislate.MA

WASHINGTON, June 8 (Reuters) – The U.S. House of Representatives on Thursday voted largely along party lines to replace the 2010 Dodd-Frank Wall Street reform law, a move that is expected to die in the Senate but open the door to revamping or eliminating regulations that came out of the 2007-09 financial crisis.
The bill, called the CHOICE act, was approved by a vote of 233-to-186. Authored by House Financial Services Committee Chairman Jeb Hensarling, a Republican, it gives banks a choice between complying with Dodd-Frank or holding onto more capital.
It also restructures the Consumer Financial Protection Bureau, created under Dodd-Frank to guard individuals against fraud in lending. Democrats are fiercely opposed to restructuring the CFPB.
The U.S. Senate is not expected to take up the bill in its entirety, even though it has the backing of President Donald Trump, a Republican, largely because of the threat that Democrats will use a filibuster to stall it.
The Congressional Budget Office, a non-partisan evaluator of legislation, estimates the bill would save the federal government $24 billion over a decade, mostly due to the lifting of the government’s authority to step in and unwind failing institutions.
The legislation also rescinds the Volcker rule that limits the type of trading banks can do with their own money and the ability of government regulators to designate non-bank institutions, mainly insurance companies, as “systemically important,” which triggers increased oversight and requirements to hold more capital.
(Reporting by Lisa Lambert and Sarah N. Lynch; Editing by Leslie Adler)

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