Race-based financial reform

The Democrats are trying to palm off a race-based bill under the guise of "financial reform" and they may just succeed.

As was true of ObamaCare, the intentions of the drafters are buried in the bill. But Investors Business Daily has the real deal.
 
[T]he bill gives Treasury the power to liquidate banks that pose a threat to financial stability. But it essentially exempts minority-owned banks and those approved by Acorn-style urban organizers.

"The orderly liquidation plan shall take into account actions to avoid or mitigate potential adverse effects on low- income, minority or underserved communities affected by the failure of the covered financial company," it says.

In other words, zombie banks laden with subprime and near-prime loans may be too PC to fail. Democrats call such immunity from reform "impact protections," but Republicans aren't buying it.



The Democrats are trying to palm off a race-based bill under the guise of "financial reform" and they may just succeed.

As was true of ObamaCare, the intentions of the drafters are buried in the bill. But Investors Business Daily has the real deal.
 
[T]he bill gives Treasury the power to liquidate banks that pose a threat to financial stability. But it essentially exempts minority-owned banks and those approved by Acorn-style urban organizers.

"The orderly liquidation plan shall take into account actions to avoid or mitigate potential adverse effects on low- income, minority or underserved communities affected by the failure of the covered financial company," it says.

In other words, zombie banks laden with subprime and near-prime loans may be too PC to fail. Democrats call such immunity from reform "impact protections," but Republicans aren't buying it.



RECENT VIDEOS