The victims of Dodd’s ‘financial reform’

Heather Bachman Contributor
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It seems to many there has to be a separate dictionary for democrats than the one which we are taught with in schools and use in our daily lives.  There are many words which Obama and the legislative majority have mixed up such as constitutional and more recently, reform.  The first hint of this is the ObamaCare that has now already threatened students, small businesses and seniors among others.  Now, however, we have victims coming up from yet another liberal launched “reform” bill.

Despite the GOP blockade falling short, Senator Dodd’s Financial Reform Bill is as much “Reform” as ObamaCare is a jobs bill (last statistic stated 690,000 jobs will be lost via ObamaCare’s penalties and taxes).  Hence, like ObamaCare, Dodd’s bill creates victims at the cost of victors who are no more than the DNC fan club and the Democrats themselves.  Already, you can see citizens waiting November more and more, as they are the most of many victims of the Senator Dodd’s recent legislation.

One of the most questionable factors is a pre-made “proposal” via an organization that hasn’t even been created yet.  It states that there will be restrictions as to the choices people have when selecting financial providers.  As a result the limit of freedom to chose any financial product, despite an interested investor or customer knowing the risks and responsibilities, will be enacted. Hence, not only will money be taken through this bill through the now famous $50 billion dollar bailout fund among other things, but so will our right to chose where the money we do have is used for and goes.

Financial risk is also seen in an objective within the bill which, surprisingly, gives a never ending handout to one of the Democrats’ biggest fans: trial lawyers.  Senator Dodd is literally ripping out a legal right of Americans when financial companies are involved in lawsuits.   Instead of attempting arbitration before entering into a courtroom, every court case with these fiscal organizations involved will be immediately forwarded right into litigation. This both increases the price of defending yourself against faulty financial companies and decreases America’s ability to make them pay for their errors. One has to wonder how financial reform will be made when monetary errors committed against citizens actually may go without any punishment let alone trial.

If anything, Senator Dodd’s reform bill is nothing more than permanent bailout attached to the same un-American laws Democrats seems to be making a name for themselves with.  Returning to the left having their own dictionary, even the definition of what this bill can “protect” is extended by the Democrats producing the label “nonbank financial company” and stating by its creation the umbrella of “protection” can be stretched to companies who have any involvement in financial aspects.

Hence, we are once again victims of what Democrats call reform. Again liberals have missed the mark on what America needs in a challenged factor of society. While nobody would debate that our financial system is challenged with many issues, Democrats are nowhere near what our nation needs to respond to it.  In fact, their agenda is challenging to a point where more issues will result from its approval.  If that’s their definition of reform is America should fear what their definition of the opposite is.

Heather Bachman is a political commentator and broadcaster and a New Jersey native. More information can be found at