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Great! More govt control. The libbies should be excited!!!

Discussion in 'U.S. Politics' started by chestnut, Sep 11, 2009.

  1. chestnut

    chestnut New Member

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    There's no arguing it. The government will not be happy until we are all just bowing and cheering " OBAMA" "OBAMA". All of our bank records will be at risk. Why does the govt need to have that info.

    They are proposing the same kind of crap in HR 3200.

    This is another radical govt expansion. Impeding on our rights. Any liberal business owners out there. Would you like all your information handed over to the govt.


    Congress is soon expected to consider H.R. 3126, the Consumer Financial Protection Agency (CFPA) Act, which would create a new and massive government agency to regulate consumer financial products. Unfortunately, this bill will do far more harm than good.

    The bill would replace your personal choice with Federal bureaucrats deciding the types of financial products and services that you can choose to own, buy, or sell. Instead of a common sense approach to improving consumer protection, this proposal will restrict your access to credit and affordable financial products, impose vast new regulations and costs on businesses, and ultimately harm the economy at exactly the time we're starting to see signs of a recovery on the horizon.

    Who is impacted? As proposed, virtually every business. If you allow customers to pay with credit, to use a lay-away program, or even to pay in more than one installment, your business would face significant new regulation. Even businesses that are indirectly related to consumer finance, such as sellers of gift cards, advertisers, accountants, homebuilders, utilities and internet providers will be covered by this sweeping new law.

    In addition, the bill would give the government authority to request and hold information about your bank accounts from financial institutions, including how much money is in each account. This is a drastic affront on the privacy and security of your financial information.


    Efforts to enhance consumer protection should focus on weeding out fraudulent actors and predatory products and ensuring consumers have access to clear and concise information about the terms and conditions of products, and the risks they pose.

    However, this bill actually weakens consumer protection by allowing government to dictate the financial products you can choose, adding new layers of government bureaucracy, imposing new costs on taxpayers, consumers and businesses, and threatening the privacy of personal financial information. This would be a recipe for disaster for our economy and consumers.
     
  2. Greco

    Greco New Member

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    Don't you ever tire of posting this kind of false, unsupported drivel, which makes you look like a buffoon. In real life, you may not be a buffoon, but you conceal that possibility quite well when you come on this site.
     
  3. Dr.Who

    Dr.Who Well-Known Member

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    the more effective way to counter that is to post a link to the bill and show that the relevant part is not in the bill.

    Otherwise it looks like you are engaging in false unsupported drivel. You may be right or you may be wrong but for the time being you are unsupported. Chestnut at least named the bill - which means he has offered more support than you have.
     
  4. Greco

    Greco New Member

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    If some said the government is preparing to pass a law requiring all left-handed citizens to color their hair blue, I wouldn't waste time researching that either. It's too absurd.

    His claim that "The bill would replace your personal choice with Federal bureaucrats deciding the types of financial products and services that you can choose to own, buy, or sell.", is no less absurd. It's exactly the same concept the Republicans used to create their phony "death panel" lie. Too absurd to have any validity at all.
     
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