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Dodd-Frank Act and the Office of Financial Research

Read up on this act and found some pretty interesting things. Overall it sounds good, keeping tabs on stuff to prevent another "crisis", but the power and sometimes more importantly the exemptions the agency that was created by this act has is amazing. It has a virtually unlimited budget, they answer more to The Federal Reserve than to the govt. with exemption from procedures other agencies have to follow. They can force a company that has been deemed to fit the liquidation criteria to liquidate even if the board members of said company refuse. The data collection and analysis parts are very concerning also. The wiki article on it is very long but worth looking through, here is a bit of what I thought was intriguing. The Office of Financial Research has power like no other agency.


The Financial Stability Oversight Council has ten voting members:[url=http://en.wikipedia.org/wiki/Dodd%E

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Added: Apr-21-2012 Occurred On: Apr-21-2012
By: Singlecoilsnap
In:
World News, Regional News, Other News, Politics
Tags: NDAA, patriot act, dodd, frank, act, legistlation, federal reserve, homeland security, gestapo, tsa, ben, bernanke, no, money, debt, credit,
Location: United States (load item map)
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  • Nothing that has frank-dodd attached to it will be worth a shit.

    Posted Apr-21-2012 By 

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  • It's a major step toward Federal power to nationalize whole sectors of the economy.

    It's not for nothing that Obama -- and a good many other left-wing politicos in the US -- are admirers of Hugo Chavez.

    Posted Apr-22-2012 By 

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