Michelle Malkin » Dodd-Frank: The Beltway Industry Full-Time Employment Act

Dodd-Frank: The Beltway Industry Full-Time Employment Act

By Michelle Malkin • July 22, 2011 09:30 AM

I’m the corruptocrat more responsible for creating the banking meltdown conditions. No, I am!

My column marks the one-year anniversary of Dodd-Frank’s passage. Go back and look at my overview post from a year ago. It’s all come true, of course. And more. The fight on Capitol Hill to curb the law’s power-grabbing Consumer Financial Protection Bureau is on. Financial crisis-inducing Fannie Mae and Freddie Mac are still skating.

Regulatory trackers Davis Polk today just released their one-year anniversary report on Dodd-Frank here. Here’s a graphic on Dodd-Frank’s exploding funding costs, which I reference in my column below:

Like I’ve said reform: The Democrats’ financial “reform” is all about the boodle.

***

The Beltway Industry Full-Time Employment Act
by Michelle Malkin
Creators Syndicate
Copyright 2011

Dodd-Frank, the 2,300-page financial “reform” monstrosity spearheaded by Capitol Hill corruptocrats, turned 1 this week. It made too-big banks bigger. It made too-risky incentives riskier. It made a lousy economy lousier. Billed as a “consumer protection” act, Dodd-Frank has succeeded phenomenally — in protecting and stimulating the business-stifling business of government.

Dodd-Frank is a tyrannical triumph of rule-makers, lobbyists and other non-elected spongers over taxpayers. If you don’t want an unseemly glimpse into the self-serving, sausage-making process that feeds the insatiable Beltway industry, read no further. The law’s implementation process is so far-reaching and Byzantine that every member of Congress should be suffering migraines from it.

Quite expectedly, the feds have met a scant 12 percent of rule-making requirements dictated by the grandstanding Dodd-Frank law as of July 1. According to legal and regulatory watchdogs Davis Polk, regulators missed 131 deadlines over the past year. Moreover, the Securities and Exchange Commission and the U.S. Commodities and Futures Trading Commission have been granting “temporary relief” deferrals (de facto waivers a la Obamacare) left and right to targets in the swaps industry.

Here is just a brief sample of “upcoming activity” on Dodd-Frank (with many rule-making deadlines still to be determined) published on the Securities and Exchange Commission website:

Section 342: Create and staff Office of Minority and Women Inclusion (pending reprogramming approval by appropriators)

Section 911: Create new Investor Advisory Committee (pending appointment of Investor Advocate)

Sections 915 and 919D: Create and staff Office of Investor Advocate (pending reprogramming approval by appropriators)

Section 919: Issue rules, as the Commission deems appropriate, designating documents or information that must be provided by a broker or dealer to a retail investor before the purchase of an investment product or service

Section 921: Issue rules, as the Commission deems appropriate, addressing agreements that require customers or clients of any broker, dealer or investment adviser to arbitrate disputes arising under the Federal securities laws

Section 932: Create and staff Office of Credit Ratings (pending reprogramming approval by appropriators)

Section 979: Create and staff Office of Municipal Securities (pending reprogramming approval by appropriators)

Section 967: Report to Congress describing actions to implement the regulatory and administrative recommendations contained in the independent consultant’s report on the SEC’s organization.

Now multiply that language by more than 400 rules total and tens of thousands of pages, scores of lobbying firms and legions of lawyers.

While disastrous bailout behemoths Fannie Mae and Freddie Mac get off scot-free, small businesses, small community banks and small broker-dealers have been hit hard by the vagueness, uncertainty and cost burdens created by the Dodd-Frank-enstein monster. Meanwhile, the Government Accountability Office estimates that the feds will need $1.25 billion for 11 different agencies to fund the rule-making racket by 2012 — including $481 million for the newly created Consumer Financial Protection Bureau.

Co-father Barney Frank bragged that his freakishly ineffective creation is “holding up well” in public opinion on its first birthday. But that’s because public opinion is shaped by vague, Wall Street-bashing sound bites instead of hard-nosed assessments of the law’s impotence-by-design.

In its analysis of the few rules that have been finalized, law firm Morrison and Foerster LLP — quoted in the financial adviser publication Investment News — concluded that Dodd-Frank regulations “do not address or resolve the core systemic risk issues in the act.” Moreover, “with elections coming up, and with international reform measures dragging along, one cannot help but wonder how, when or even if many of the act’s reforms will be put in place.”

As they say in the software industry, the government budget-lining bureaucratic delays are not bugs. They’re features of yet another Beltway Industry Full-Time Employment Act.

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Comments

#1

On July 22nd, 2011 at 9:46 am, NJ-Aviator said:

The bureaucracy that is Dodd-Frank sounds like one of the first things that should get shut down when no deal is reached on spending cuts and the debt ceiling.
#2

On July 22nd, 2011 at 9:48 am, DanMan said:

I get it proven to me often that I am a fairly normal person. Something occurred to me this week that I have a hunch is happening across the country. No politician that has served more than a couple of terms is innocent. We haven’t paid any debt since something like 1961. Forget talking about how we got here because here we are.

One party is doing all it can to maintain the status quo. The other party, that has fully participated in the debt assemblage, is struggling because they are being exposed. I am paying attention to the economy/debt issue because I have to, not because I want to.

The gig is up. If we don’t get some openess and honesty from them we will need another round of primarying the RINOs and begin anew our effort to gain control of our country. It is time for the old guard in the GOP to come clean and stand on principal or quit. We know the dems have no such constraints.
#3

On July 22nd, 2011 at 9:49 am, JHSII said:

This is what I was talking about in the other topic – the Beltway economy is booming. Jay Carney says that the economy is “vastly improved” – well duh!

The problem is that while their economy booms, our economy crashes. And when we can no longer sustain their economy they blame us for starving children and throwing grandma out on the street.

To top it all off, we have Bill O’Reilly talking about the “extreme Tea Party” and showing video clips of 1970′s terrorists. It’s not going to get any better as we get to the 2012 elections
#4

On July 22nd, 2011 at 9:58 am, rocketman said:

***
The same liberal / socialist / statist / marxist / communist plan in action again. Have Gubmint take over more of our economy by imposing higher costs on business and consumers. Grow the federal bureauocracy on taxpayers backs.
***
And this is just another “strawman” problem “solution”–by the same 2 crooks who set us up for the mortgage industry meltdown that caused a lot of our current financial disaster.
***
Divert attention from the real problem–out of control federal overspending by Comrade Obama and His Ilk. Blame someone else or some other industry for the corrupt Dodd-Fwank debacle.
***
Oh! Look! Isn’t that a Unicorn hiding behind that tree over there? Don’t raise the spending cap–defund these efforts that way now. And slash Gubmint back to 1980 or earlier levels after the Nov. 2012 Tsunami II victory.
***
John Bibb
***
#5

On July 22nd, 2011 at 10:23 am, cabrerski said:

The only choice that we should be offering those in D.C. right now is:

“Would you prefer duck, goose or, most appropriately, chicken feathers with your hot tar shower?”
#6

On July 22nd, 2011 at 10:24 am, cheapseat said:

And these dolts in DC supposedly acting in our behalf can’t find any cuts other than 3 trillion OVER TEN YEARS. Meanwhile the spending in this year and next will increase the debt nearly 4 trillion alone.
To my congress, do you think it will get any esier to say no when the NEXT debt ceiling limit arrives in 2013? Greece is 125% of GDP. We are at 100% and going to 110% of GDP if you give the socialist in chief this next 2 trillion dollars in debt he needs so much. We sent you there to CUT the damn spending, not to slow it’s growth. Don’t give the money, and let’s see which programs the dems REALLY want to cut, and which they can live without.
#7

On July 22nd, 2011 at 10:38 am, J.J. Sefton said:

This legislation is at least as damaging to our society and the American way of life as obamacare. It enables crony capitalism, giving cover to the punishment of political enemies.

Repeal this, o-care and Sarbanes/Oxley and America has a chance to get back to some semblance of a thriving, constitutional republic.
#8

On July 22nd, 2011 at 10:52 am, John Deaux said:

Failure is not an option, it is a requirement listed in Titles I thru XVI.
#9

On July 22nd, 2011 at 10:52 am, Darthnoob said:

Steve Wynn called it a ‘wet blanket on the economy’.
#10

On July 22nd, 2011 at 10:53 am, Flyoverman said:

Why Frank and Dodd are not sitting in Levanworth is a travesty of justice.
#11

On July 22nd, 2011 at 11:04 am, prendad said:

Co-father Barney Frank bragged that his freakishly ineffective creation is “holding up well”

“Yeah, as a matter of fact, it’s holding up exceedingly well, no, better than anything else I’ve ever seen, no, better than anything else in the UNIVERSE!!!!
#12

On July 22nd, 2011 at 11:10 am, prendad said:

Co-father Barney Frank bragged that his freakishly ineffective creation is “holding up well”

“I mean, I haven’t had a chance to read it yet, but I’m sure it is just a super-duper piece of legislation”!
#13

On July 22nd, 2011 at 11:21 am, Truesoldier said:

On July 22nd, 2011 at 9:49 am, JHSII said:
Jay Carney says that the economy is “vastly improved”

Speaking of that…I wonder how Carney would spin this.
#14

On July 22nd, 2011 at 11:21 am, z_montana said:

Last year I took advantage of the opportunity to attend a local meeting facilitated by one of my senator’s field office representatives. This was simply a meeting to reach out to constituents and to solicit comments on matters of concern. It was a very small gathering, besides me, attended by a couple of representatives from the local college, and one or two local Democrat office holders. (Perhaps this low attendance was because the meeting was held on a weekday morning.) I asked about the status of the Dodd-Frank bill. The field representative was not at all familiar with the bill and asked what it was about. I briefly explained my understanding of the proposed bill and, in so doing, voiced my concerns and opposition. To her credit, she did place a call to find out about the bill – and found that it was coming up for cloture vote that afternoon. I am so pleased my senator has staff that is on top of current issues, willing to address the concerns and needs of his constituents.
#15

On July 22nd, 2011 at 11:32 am, Whirled Peas said:

The gig is up. If we don’t get some openess and honesty from them we will need another round of primarying the RINOs and begin anew our effort to gain control of our country. It is time for the old guard in the GOP to come clean and stand on principal or quit. We know the dems have no such constraints.

Does the ‘promise’ of transparency ring a bell? All these ‘crisis’ bills that have passed virtually overnight (TARP, Porkulus, Obamacare, QE1, QE2, et al)through scare tactics. This is not a way to govern a country but it is the MO of these socialist/marxists and the republicans have fallen for it so many times in the past.
#16

On July 22nd, 2011 at 11:34 am, rightisright said:

I want to see all these crooked bastards in jail after the real conservatives take over the givernment and save this country from the annals of failure in history.
#17

On July 22nd, 2011 at 11:34 am, Whirled Peas said:

Got sidetracked I was going to say both of these clowns need to be suited up in felon orange and share a cell… I’m sure Bawney would love that….
#18

On July 22nd, 2011 at 11:34 am, RTater said:

Ditto #10
#19

On July 22nd, 2011 at 11:36 am, Truesoldier said:

On July 22nd, 2011 at 11:21 am, z_montana said:
I am so pleased my senator has staff that is on top of current issues, willing to address the concerns and needs of his constituents.

Well it could have been like my former Congressman. In 2000 I was redestricted into WA ST 3rd CD. It only took his staff till 2008 to update their records and website with my zip code so that they would actually recognize that he was in fact my representative and would actually take emails and phone calls from me. Thankfully he retired and the seat changed to GOP hands. So far my new Rep has been doing a great job.
#20

On July 22nd, 2011 at 11:37 am, Truesoldier said:

On July 22nd, 2011 at 10:53 am, Flyoverman said:
Why Frank and Dodd are not sitting in Levanworth is a travesty of justice.

Because Levanworth is too good for them. I was thinking perhaps it is high time to reopen Alcatraz or perhaps they could share a cell with one of the residents of club GITMO.
#21

On July 22nd, 2011 at 11:55 am, NotTheMama said:

The root cause of the housing bubble is coming on us again as the institutions are being forced to permit even more high risk mortgages to people who can’t qualify or repay. And so on.

The real problem still has not been addressed.
#22

On July 22nd, 2011 at 11:59 am, Truesoldier said:

On July 22nd, 2011 at 11:55 am, NotTheMama said:

The root cause of the housing bubble is coming on us again as the institutions are being forced to permit even more high risk mortgages to people who can’t qualify or repay. And so on.

So true. If I had a penny for everytime I heard one of those mortgage commercials advertising ARM’s, 10 year mortgages, and other crap that is goining to cause the same thing to happen again I would be able to retire.
#23

On July 22nd, 2011 at 12:03 pm, babiesgrandma said:

Whirled Peas said:
Does the ‘promise’ of transparency ring a bell? All these ‘crisis’ bills that have passed virtually overnight (TARP, Porkulus, Obamacare, QE1, QE2, et al)through scare tactics. This is not a way to govern a country but it is the MO of these socialist/marxists and the republicans have fallen for it so many times in the past.

Like Lucy yanking the football away from Charlie Brown every time she promises she won’t do it again. Poor ol’ Charlie Brown falls for it every time. Sound familiar, GOP? STOP FALLING FOR THEIR LIES.
#24

On July 22nd, 2011 at 12:12 pm, rambler said:

The root of all our problems is the circus in DC. None of the clowns who caused the mess have owned up to it or been investigated. They keep going from one supposed quick fix to another all the while creating a bigger mess in the process.

JHSII said: Tea Party extremists

Yup, O’Reilly in in the tank. He hid it well for a while. I’m thoroughly convinced that he voted for bho. He and Brit Hume seem to think that the Tea Party is preventing the GOP from raising the debt ceiling and that is a bigger problem for the economy than ….. oh, say…. borrowing more than 40 cents/dollar spent. Why does DC think that paying for gov on someone else’s dime is not a worse problem than raising the debt?
#25

On July 22nd, 2011 at 12:27 pm, sonerai32645 said:

Most in Washington still do not get it. Time to throw most of them out. My 2 Sens. and Rep. (NC) do not even bother to answer my e-mails that are short and not nasty
#26

On July 22nd, 2011 at 12:27 pm, tone said:

The Soviets would have been so proud to see this final fate of America. That’s all there is to say at this point.
#27

On July 22nd, 2011 at 12:28 pm, tone said:

To top it all off, we have Bill O’Reilly talking about the “extreme Tea Party”

Well, that, and that Bill Oreilly is a Fraud. Do any of you really believe that fool is anything but a shill? Jeez.
#28

On July 22nd, 2011 at 12:42 pm, AlohaGuy said:

Darthnoob said:

Steve Wynn called it a ‘wet blanket on the economy’.

Wynn is also a Dem and voted for the Marxist. He can huddle under his wet blanket as far as I’m concerned, but yes, when die-hard Dems know you screwed up, it’s too bad 49% of the electorate doesn’t.
#29

On July 22nd, 2011 at 1:17 pm, AlohaGuy said:

Whirled Peas said:
Does the ‘promise’ of transparency ring a bell? All these ‘crisis’ bills that have passed virtually overnight (TARP, Porkulus, Obamacare, QE1, QE2, et al)through scare tactics. This is not a way to govern a country but it is the MO of these socialist/marxists and the republicans have fallen for it so many times in the past.

A crisis for every intervention.
#30

On July 22nd, 2011 at 1:19 pm, MarcoPolo said:

Michelle, I’m not at all convinced that any Republican leadership or candidate is interested in repealing any of this endless bureaucratic regulation. I haven’t seen any Republican condemning this idiotic new behemoth known as the CFPB. And I’m definitely not convinced that everything will be OK if only the Republicans get to run it all starting in 2013. It breaks my heart to see how little progress the small government / TEA Party movement is actually making.
#31

On July 22nd, 2011 at 1:34 pm, sbw999 said:

On July 22nd, 2011 at 12:28 pm, tone said:

To top it all off, we have Bill O’Reilly talking about the “extreme Tea Party”

Well, that, and that Bill Oreilly is a Fraud. Do any of you really believe that fool is anything but a shill? Jeez.

I thought Laura Ingraham was gonna puke when he said that to her. Ive watched O Reilly for years, and he really went off the rails with that one. Though some context: he said that he is a fan of the TP; but their unwillingness to compromise (by agreeing to some new taxes) would make them get branded as extreme, though it did seem that he would agree with that characterization if the TP persisted. But then he stupidly compared them to the late 60′s/early 70′s Yippie movement (Abby Hoffman et al). When he keeps harping on the fact that he is a registered Independent, then you know its about his popularity going to his head. His constant interrupting of guests has gotten even worse.

As far as Dodd/Frank, they are the poster boys for Term Limits. Washington is infested with scumbags, and frauds on both sides of the aisle.
#32

On July 22nd, 2011 at 2:05 pm, Truesoldier said:

On July 22nd, 2011 at 1:34 pm, sbw999 said:
Ive watched O Reilly for years, and he really went off the rails with that one.

IMO O’Reilly is and has been nothing but a ratings whore. He will say anything he thinks is “controversial” to get ratings. No surprise seeing that he was once part of the inside edition crew.
#33

On July 22nd, 2011 at 2:08 pm, right_on said:

These guys, along with FNMA exec.s, Johnson and Raines (and a vast number of others), their lobbyists, Moody’s, Standard & Poors, and Fitchs, colluded with other members of Congress to reduce oversight from the SEC and others, that would have stopped the financial shenanigans from the outset.

There are so many culpable people involved that we would need an index just for their names. What they did was much worse than anything Enron did, yet they enjoy the ill-gotten fruits of their labor, and all the freedom it can buy…and, most are still involved in the global money game. They will never be prosecuted. The best we can hope for is that Karma catches up with them before their time is up.
#34

On July 22nd, 2011 at 2:08 pm, FirstSkirt said:

ANY bill, ANY, with Dodd’s or Frank’s name attached to it is steeped in socialism and wealth distribution. Namely, taxpayer wealth into their individual coffers. All I’m asking for is some justice for these criminals (on both sides of the aisle).
#35

On July 22nd, 2011 at 2:13 pm, right_on said:

Ive watched O Reilly for years, and he really went off the rails with that one.

I find myself yelling at him on the tube more and more. He is, IMHO, becoming more and more of a pompous ass when anyone dares question his opinions. He goes on and on about bloviating, yet last night, his constant yapping cut off anything Laura would try to comment on.

I actually cursed him when he said he was “smarter” on the subject than was Laura.
#36

On July 22nd, 2011 at 3:09 pm, Ilovemycountry said:

Yep, looks like you people are at it again:

“S&P Ratings Agency to meet with House Republicans to educate them on what a downgrade means. To make sure everyone understands, they are meeting with the Republicans, because they are the only ones who don’t farking get it”

http://money.cnn.com/2011/07/21/news/economy/debt_ceiling_house_gop/index.htm?iid=Lead

When will you people leave this country?
#37

On July 22nd, 2011 at 3:34 pm, Harley2007 said:

Think about this.Otraiter,Dodd,Frank,Rangle
Geitner etc. all break laws and just spit in our faces and laugh and get away with it. People you keep saying next election well it is to late. They strip our children and old people they put out films calling us terrorists they throw us in jail for years committing crimes not nearly as bad as they do daily and we sit and do NOTHING. They have NO fear of us and look at us as serfs. Is this the America you thought is was? We are already in a Marxist country. I have to give the nuts in the middle east credit for one thing. THEY are not afraid to rise up and die for what they believe and they don’t even have weapons. We are a nation of cowards. I am getting damn tired of being spit on myself.
#38

On July 22nd, 2011 at 3:49 pm, Rogue Cheddar said:

On July 22nd, 2011 at 3:09 pm, Ilovemystoolsample said:

Hey Ma, can I have another sippy cup, this one’s full already?!
#39

On July 22nd, 2011 at 3:51 pm, Rogue Cheddar said:

Re pic:
Dodd: No, he’s a full blown maggot, I’m still pupating.
#40

On July 22nd, 2011 at 4:43 pm, AlohaGuy said:

The rating agency warned that it may downgrade the US rating by one or more notches into the AA category in case it would decide that “Congress and the Administration have not achieved a credible solution to the rising U.S. government debt burden and are not likely to achieve one in the foreseeable future”.

[emphasis mine]

Not debt ceiling, debt burden. You know, the debt. ILMC doesn’t understand because, well, he doesn’t understand, but many in the MSM are purposely distorting the report as they carry Obama’s water…
#41

On July 22nd, 2011 at 5:14 pm, Truesoldier said:

Speaking of the deficit talks here is a great article on NRO.

Jordan argues that “Cut, Cap, and Balance,” the only plan that has passed the House, is also the only plan that could pass the House. For GOP leaders to consider anything besides that legislation would amount to a betrayal, he says, if not of conservative principles then of the party’s bargaining power.
#42

On July 22nd, 2011 at 5:15 pm, Truesoldier said:

On July 22nd, 2011 at 3:51 pm, Rogue Cheddar said:
Re pic:
Dodd: No, he’s a full blown maggot, I’m still pupating.

Dodd to Fwank: If anyone asks just blame Bush….
#43

On July 22nd, 2011 at 6:15 pm, Hiraghm said:

Speaking of the deficit talks…

Obama just got in front of a camera and speculated “If we have no revenues”….

He has effectively redefined “revenue” to mean “tax increase”!

More of Obama’s speech…
#44

On July 22nd, 2011 at 7:15 pm, FeFe said:

Obamacare waivers are not the only waivers in town:

Maryland will request an exemption from a new requirement by Medicare that hospitals demonstrate their quality of care. The requirement, which involves monetary rewards for those that meet the new standard and penalties for those that don’t, goes into effect Oct. 1.

“We will provide documentation to the secretary of the U.S. health department before that deadline” to demonstrate that “Maryland already has those programs in our system” …

The commission has been tracking quality care in hospitals in the state for three years. “The health reform act says you can be exempt from this regulation if you show you already meet or exceed” the national requirement, Murray said, adding that he expects to demonstrate that successfully.
…
The new quality requirement is not the only standard that is being imposed on hospitals nationwide in order to qualify for Medicare payments. Another element is Medicare’s recent announcement that, for the first time, it will focus on hospitals’ total expenditures per enrollee, although the definition is vague and the time frame for implementation is indefinite.

Because Maryland is the only state in the country with a waiver from the Medicare payment methodology, Murray does not expect the new national total expenditure standard to affect the state directly.

In 1977, the state negotiated the waiver in which Medicare agreed to pay hospitals in Maryland on the basis of commission-set rates. Over the years, other states have also been granted waivers but Maryland is the only state to have maintained its waiver.
#45

On July 22nd, 2011 at 7:24 pm, FeFe said:

Is there any point in working hard when Maryland now mandates you must join a union and gives pensions for life to politicians? Evil.

Former Prince George’s County Executive Jack B. Johnson (D) will receive $39,468 per year in state pension benefits for the rest of his life, despite his recent plea to federal corruption charges, a spokesman for the Maryland State Retirement and Pension System said.

The $3,289 per month Johnson has collected since January is not subject to cancellation,…

Former Baltimore city mayor Sheila Dixon was criticized for collecting an $83,000 annual pension after signing a plea agreement with prosecutors on Jan. 7, 2010. Dixon was convicted on embezzlement charges, but she pleaded guilty to charges of perjury and received probation and her retirement benefits.
…
Prince George’s County police, firefighters and deputies have separate pension plans that allow them to retire after 20 years with 60 percent of their ending salary.
#46

On July 22nd, 2011 at 7:37 pm, FeFe said:

Hello Boeing! I got your forced union right here in Maryland. This is tyranny!

The American Federation of State, County and Municipal Employees (AFSCME), the largest union of state workers, has set its nonmember fee at $13.84 per biweekly pay period — roughly a dollar less than full-fledged members pay [$1.12], an official said this morning.

Beginning this month, thousands of non-union state workers will see their paychecks reduced by $10.80 to $14.96, thanks to The Fair Share Act. Passed in 2009 by the General Assembly, the Gov. Martin O’Malley-backed bill kicked into gear after state workers this year approved broad contracts containing the nonmember union fee provision.

Sue Esty, AFSCME’s assistant director, said the nonmember fee is based on a union expense amount that auditors have determined is “chargeable,” meaning that it doesn’t directly relate to political activities.
…
AFSCME bargains on behalf of about 21,000 state workers and only about 8,000 pay dues. This new fees mean the union stands to gain as much as $4.7 million over the next fiscal year, about double what it takes in now. Maryland is one of about two dozen states with “fair share” laws.

AFSCME notified employees of the new fees last month, and more than 1,000 workers have decided to sign up for the union, paying about $389 per year.

Those who decline to be members but haven’t objected in writing will pay $360 per year. And those who have objected in writing — “political objectors” — will pay about $280 annually. Last week, AFSCME reported that about 610 workers have asked to be political objectors.
#47

On July 22nd, 2011 at 7:40 pm, FeFe said:

Link to AFSCME $1.12 dhimmi tax above.
#48

On July 22nd, 2011 at 7:54 pm, RedDog said:

Cut off half the federal government now and prosecute Dodd and Frank. Both are criminals. This is the face of out of control tyranny.
#49

On July 22nd, 2011 at 8:10 pm, sbw999 said:

On July 22nd, 2011 at 2:13 pm, right_on said:

Ive watched O Reilly for years, and he really went off the rails with that one.

I find myself yelling at him on the tube more and more. He is, IMHO, becoming more and more of a pompous ass when anyone dares question his opinions. He goes on and on about bloviating, yet last night, his constant yapping cut off anything Laura would try to comment on.

I actually cursed him when he said he was “smarter” on the subject than was Laura.

You are right. His ego has gotten out of control. But even after that condescending display last night, Laura is hosting his show tonight, raising the IQ of the show considerably.
#50

On July 22nd, 2011 at 8:26 pm, right_on said:

On July 22nd, 2011 at 3:09 pm, Ilovethetasteofpoop said;

When will you people ~~leave~~ lead this country?

That will be after the inaugural, January 2013. Then, within months is my guess, the criminal purge of corrupt Democrats will begin, starting with the top echelon of the Department of Justice. It will, hopefully, move on the the various members of the House, and Senate who enabled this financial crisis (and benefitted financially from their dealings with Wall Street, Fanny & Freddy, Goldman Sachs, and others,) starting back in 1992.

Perhaps new faces will bring new order to the corrupt happenings in Washington, and stricter laws regarding lobbyists and their money will be seriously addressed. Personally, I think lobbying connected to any business, or entity which is regulated by Congress, should be illegal. Money buys access, and breeds corruption.