Friday, October 08, 2010

HR 3808 - Throw the Bums Out

If you ever needed a reason to get rid of an incumbent politician (Republican, Democrat or Otherwise) you now have one (yet another one). I try not to get political on this blog, but what we have witnessed over the past decade (or more) is the abdication of the people's interest for Wall Street/Big Banking's interests.

The finance industry has taken over this country, led by Ben Bernanke at the Federal Reserve and the death grip they have is strangling the poor and the middle class. Nowhere is this more prevalent than in Congress where our beloved (approval rating below 20%) politicians are either in the pockets of the banking industry or just plain stupid (please understand I am not ruling out the possibility that both may apply).

HR 3808 was authored by a Republican and co-sponsored by three Democrats and guess who voted for it? Nobody knows. That's right, there is no record of WHO voted for it as it was a Voice Vote in the House and done by Unanimous Consent in the Senate (a process which I don't fully understand). There was no public debate. This was a deliberate act of Congress to evade detection of a bill that would hurt Main Street and help the Banksters by making it easier to foreclose.

Congress doesn't even have the guts to put there name on the vote and now many members are coming out against it...when it scores them political points.

No politician that I am aware of led the fight to Kill the Bill - which means they implicitly wanted it or simply didn't read the bill - neither of which is acceptable.

This is a complete betrayal of the American people and Obama did the right thing by sending it back to Congress (as if he had a choice).

I'm not going to tell you how to vote - to be perfectly honest I don't know how to vote anymore, but trusting Congress to do the right thing is not something that I have within me.

Scott Dauenhauer, CFP, MSFP, AIF