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News & Current Events Discuss Finance bill favors interests of unions, activists at the General Forum; The financial reform bill expected to clear Congress this week is chock-full of provisions that have little to do with ...

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Old 07-15-2010, 01:09 PM
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Default Finance bill favors interests of unions, activists

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The financial reform bill expected to clear Congress this week is chock-full of provisions that have little to do with the financial crisis but cater to the long-standing agendas of labor unions and other Democratic interest groups.

Principal among them is a measure to make it easier for unions, environmental groups and other activist organizations that hold shares to put their representatives on the boards of directors of every corporation in the United States.

The so-called "proxy access" provision, which activist groups say they will use to try to improve oversight of corporate financial practices, has provoked a backlash from the Business Roundtable, U.S. Chamber of Commerce and other major non-Wall Street business groups.

"This legislation includes provisions totally unrelated to the financial crisis which may disrupt Americas fragile economic recovery" and lead to increasing political battles in the boardrooms, said John J. Castellani, president of the roundtable.
continued at site....

Finance bill favors interests of unions, activists - Washington Times

Nothing like a little payola when it comes to buying votes....
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Old 07-15-2010, 09:17 PM
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Default Re: Finance bill favors interests of unions, activists

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Originally Posted by MrLiberty View Post
continued at site....

Finance bill favors interests of unions, activists - Washington Times

Nothing like a little payola when it comes to buying votes....
This is getting ridiculous, the agenda of this adminsitration is hurting us for the next 100 years.
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Old 07-16-2010, 03:40 AM
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Default Re: Finance bill favors interests of unions, activists

I think you should rename this thread "Finance bill favors interest of socialists"

or just make it real simple with " Obama is a socialist"

good grief..Who freakin voted for this guy anyway? I mean besides the uninformed and misinformed children, the people with white guilt, the socialists, and the anti American anti capitalists? I havent met a single pro capitalism person that voted for Obama other than a handful of stupid kids that voted for him cuz they thought he was cool.
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Old 07-16-2010, 10:18 AM
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Default Re: Finance bill favors interests of unions, activists

I read it and I don't see an issue. Shouldn't employees be represented?
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Old 07-16-2010, 10:21 AM
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Default Re: Finance bill favors interests of unions, activists

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I read it and I don't see an issue. Shouldn't employees be represented?
That should be left up to the ones that own the business and sell the shares...NOT the government getting their stank all over it...
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Old 07-16-2010, 10:24 AM
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Default Re: Finance bill favors interests of unions, activists

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That should be left up to the ones that own the business and sell the shares...NOT the government getting their stank all over it...
Whats the difference? How does it hurt anyone? Might keep companies from considering more then just greed
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Old 07-16-2010, 11:08 AM
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Cool Re: Finance bill favors interests of unions, activists

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Originally Posted by Mikeyy View Post
I read it and I don't see an issue.
I have not read it, so I am freaking ignorant. And well, I am like too tired to go find it and read 2,400 pages of every freaking bill to see what is offensive. Logically I am suspect of anybody who does not have any issues with a bill; having no issue with something so large irks of Hive Mind and Kool-Aid.

Maybe instead of opinion pieces those who care should be quoting the offending sections with a link so we can have an intelligent discussion.

I see no reason to throw out the baby with the bath water because I know a huge number of Republicans (Libertarians) do NOT accept their part in causing the Mortgage Meltdown and unsafe and unsound banking practices of unregulated vampire usury.

It kind of irks me when I see "debates and passes the massive 2,400-page bill" but there is no link to that. Where is the link to the bill?

I see a link to "United States" in the article, so I can read more of their articles, but where is the link to the offending sections?

I heard Beck complain about the provisions that sounded like the community reinvestment act, but I know that that law had "consistent with safe and sound banking practices" so I do not blame a law necessary to give minorities a fair share of loans.

What about links to things you like? I might like them too and think they are worth accepting the bad we can get rid of in what January...and in 2013. But, come to think of it, I guess conservatives think it is the end of world.
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Old 07-16-2010, 11:33 AM
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Default Re: Finance bill favors interests of unions, activists

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I have not read it, so I am freaking ignorant. And well, I am like too tired to go find it and read 2,400 pages of every freaking bill to see what is offensive. Logically I am suspect of anybody who does not have any issues with a bill; having no issue with something so large irks of Hive Mind and Kool-Aid.

Maybe instead of opinion pieces those who care should be quoting the offending sections with a link so we can have an intelligent discussion.

I see no reason to throw out the baby with the bath water because I know a huge number of Republicans (Libertarians) do NOT accept their part in causing the Mortgage Meltdown and unsafe and unsound banking practices of unregulated vampire usury.

It kind of irks me when I see "debates and passes the massive 2,400-page bill" but there is no link to that. Where is the link to the bill?

I see a link to "United States" in the article, so I can read more of their articles, but where is the link to the offending sections?

I heard Beck complain about the provisions that sounded like the community reinvestment act, but I know that that law had "consistent with safe and sound banking practices" so I do not blame a law necessary to give minorities a fair share of loans.

What about links to things you like? I might like them too and think they are worth accepting the bad we can get rid of in what January...and in 2013. But, come to think of it, I guess conservatives think it is the end of world.
Well I only read what was posted also. I didn't read the word activist in the bill. Guess someone along the line added that word to infuriate somebody.
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Old 07-16-2010, 05:24 PM
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Cool Re: Finance bill favors interests of unions, activists

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Well I only read what was posted also. I didn't read the word activist in the bill. Guess someone along the line added that word to infuriate somebody.
What is the fracking use for this crap?

"``(2) MULTIPLE LOANS.--If the creditor knows, or has reason to know, that 1 or more residential mortgage loans secured by the same dwelling will be made to the same consumer, the creditor shall make a reasonable and good faith determination, based on verified and documented information, that the consumer has a reasonable ability to repay the combined payments of all loans on the same dwelling according to the terms of those loans and all applicable taxes, insurance (including mortgage guarantee insurance), and assessments.

``(3) BASIS FOR DETERMINATION.--A determination under this subsection of a consumer's ability to repay a residential mortgage loan shall include consideration of the consumer's credit history, current income, expected income the consumer is reasonably assured of receiving, current obligations, debt-to-income ratio or the residual income the consumer will have after paying non-mortgage debt and mortgage-related obligations, employment status, and other financial resources other than the consumer's equity in the dwelling or real property that secures repayment of the loan. A creditor shall determine the ability of the consumer to repay using a payment schedule that fully amortizes the loan over the term of the loan." (P, 768 of the PDF)

http://frwebgate.access.gpo.gov/cgi-...173enr.txt.pdf

Relying upon the common sense of regulators may not be enough, the language appears to include back ratio debt to income ratio or as they said, "residual income the consumer will have after paying non-mortgage debt." That is for loans one already has.

The problem is, there is nothing whatsoever that I see that prevents a creditor from giving a loan to a consumer (the Mortgage lenders are concerned about having the "ability to repay a residential mortgage loan") from giving two Capital One cards, two Discover Cards, and two Chase cards to that same consumer after they have all those multiple mortgage loans. And since previous FED rules only require people under 21 to have the ability to pay, if too many fail all at once, the same problem could still exist.

If only I had a brain...

Did someone see Credit Union and freak? I cannot even find activists either. Found the minority thingy but what the frack as if we haven't that our whole lives from hiring, promotion, and "voluntary" retirement due to being whitey.

Glen Beck has post-it-notes on his copy, I don't even have enough paper in the house. My printer would run out of ink if it was full. I hate em...

I don't know about you, no matter how much a conservative may hate liberals, I think this guy isn't stupid:

New finance bill: Mountain of paper, molehill of reform - Bank Reform News | Obama Bank Reform Bill - Salon.com
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Old 07-17-2010, 06:48 AM
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Default Re: Finance bill favors interests of unions, activists

A long time ago I posted a quote by someone in which it something to the affect that it shouldn't take a bill passed by congress 2300 pages to protect freedom. But, it does take 2300 pages when you're trying to hide something.

Now none of us have read this bill that was passed and I would bet that every member of congress who voted for this bill hasn't read it either. I suspect that there is much hidden in it that we don't know about and also that infringes on our freedoms and liberty's, but for some reason that does not concern those on the left. The only thing they know is that it will somehow hurt the big bad finance industry.
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