(You think I'm kidding about the mushrooming bureaucratic paper being generated? Here's an excerpt from that link, which everyone should read:
Dodd-Frank isn’t all rule-making in order to act the legislation — it’s also about actual homework assignments, like that assigned by Section 719(c) which: requires the Commissions jointly to conduct a study (“Study”) and then to report to Congress (“Report”) on how swaps and security-based swaps (collectively “Swaps”, unless otherwise indicated) are regulated in the United States, Asia, and Europe and to identify areas of regulation that are similar and other areas of regulation that could be harmonized. The above is from the introduction to the 153-page study itself — just published on January 31st and which gives an exhaustive amount of detail on existing regulatory frameworks and proposals for swap regulation.)It turns out that Wall Street is attacking the new CFTC limits on speculative positions - and thereby fighting limits on their ability to manipulate the gold and silver markets - using none other than Eugene Scalia as their lead attorney. For those of you don't recognize that last name, Eugene is the son of Supreme Court judge Anthonin "I hunt with Dick Cheney for favors" Scalia LINK. Now, of whom in hell do you think the justice system is going to rule in favor? Quite frankly, on Federal litigation matters there should be absolutely no connection between any of the legal representation and the judicial system. This particular connection is absurd. How many of you actually would believe that there won't be influence pedalled here? Then again, I guess mob organizations like Wall Street are best served by hiring mob attorneys like Scalia...
It turns out that the "grassroots reformer" elected by this country to clean up DC/Wall Street and restore Rule of Law is actually trampling all over the laws that are already in place. If Obama won't enforce the laws that exist, then why in the hell do we need new ones like Dodd-Frank?
I'll tell you why. Read thru the link in the opening paragraph above and you'll see that all of this new legislation is designed to do nothing more than create massive piles of paperwork and "studies" in order to deflect any possibility of the Government bureaucracy from actually doing its job of enforcing laws and prosecuting the big banks and corporations who are stealing our wealth. By the way, Obama supporters, how's that new healthcare legislation working for you? It's all frighteningly Orwellian...but then again, Atlas shrugs.