Chris Dodd on financial “reform” – no one knows how this will work…

The BOHICA Twins

Outgoing corruptocrat Chris Dodd’s financial “reform” boot-to-the-face cleared a contentious congressional panel debate and it looks like it will pass. After an all night session, democrats Dodd and Slobbering Barney Frank were able to twist enough arms and grease enough palms to push this POS bill through. The defining moment however comes in this quote from the Washington Post (story here from JWF):

“It’s a great moment. I’m proud to have been here,” said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the Senate Banking Committee led the effort in the Senate. “No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”

Great – more mystery meat legislation from the assclowns in congress. What we do know is that this 2000 page monstrosity creates multiple new layers of bureaucracy and smothering government control. (more here) It also does nothing to reign in Fannie and Freddie – the real culprits in the financial disaster.

An interesting aside – the above quote from Dodd has been scrubbed from the online version of the WAPO article.

Remember this in November…