Do we need some financial reform? Absolutely. Do we need or want what Democratic leadership is insisting on? NO! Every month the Obama Administration seems to come up with something else that will grow government and increase the power of bureaucrats.
The American people have made it abundantly clear that they want less government, not more. They want problems solved in a bipartisan manner, not the creation of new problems.
The financial services reform bill that is presently being debated in the Senate, simply adds huge new federal powers without taking any steps to reopen lending to small businesses. The Dodd Bill does very little to reduce financial risks. What it will do is make Wall Street even more the servant of bureaucrats in Washington and the political party in power. That is not in the best interests of the American people.
Neither is it in the best interests of the people to ignore the excesses of Fannie Mae and Freddie Mac. But yet, Washington politicians are reluctant to include these out of control agencies in any reform package.
To get our economy back on track and keep it functioning properly without the problems of our financial institutions, we need reasonable regulations that will protect Main Street, while at the same time allow Wall Street to do what it does best - make money for American investors.
What we do not need are more bailouts for financial giants. People are justifiably angry about the government bailouts of the last year. We can't replace the cycle of boom and bust with fraud and bailout. Republicans are willing to support and vote for realistic, meaningful financial reform.
Cross Posted at Vote Marsha.com