Business Piece
Senate Financial Bill Wrong for Main Street
by OffSite (5/28/10)
The “Restoring American Financial Stability Act,” that passed Congress last week with 39 senators voting nay, will hurt Main Street investors and entrepreneurs, and worsen the problem of “too big to fail” bailouts.
The numerous flaws of the bill add up to one basic problem: The bill’s omission of reform for Fannie Mae and Freddie Mac, combined with the overly broad expansion of cumbersome regulation of legitimate investors and entrepreneurs, is exactly the wrong prescription for an economy struggling to climb back from the brink. Full Piece
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