The Financial Rape of America Has Begun in Earnest.

I fear for the damage being done to this country with the passage of the new financial legislation dubbed the Wall Street Accountability Act will change the very fabric of our nation's financial sector. President Obama will sign it into law next week. It is giving power to the wrong people. The winners are Unions, environmental groups, financial regulators, the Treasury, the FED, the FDIC, bigger Government and the losers are the American People.

A teary-eyed Sen. Christopher J. Dodd (D-Conn.) at the final passage of the bill was having a Nancy Peiosi moment when he uttered these, soon to be infamous, words “No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”

OMG are these people insane or just criminals!

Among the little presents the Federal Government [sic the Administration] has given itself is the ability to seize ANY bank or financial institution it deems as risky. The President promised this legislation would end the too-big-too-fail mentality in the Financial Markets but this bill virtually guarantees future bailouts of Wall Street banks according to Senator Mitch McConnell.

This puts too much power in the hands of yet another, as yet to be created, government agency. It gives Unions and Environmental groups the “right” to place its hand chosen members on the Board of Directors of ANY company to influence and set policy for the private sector. Isn't that a conflict of interest?

Do you see the pattern here? As with TARP, the Stimulus and Health Care, where we have seen nasty little surprises daily since their passage. We can now count on massive new regulation in our future. There will be more than 500 Agencies writing new rules for a myriad of grasping new laws that have been written into this monstrosity. And we have the same people who gave us Freddie Mac and Fannie Mae to thank for this debacle. Barney Frank, Chris Dodd, and Harry Reid to name a few of the culprits.

Does that fact alone scare anyone by me?

There are Republican villains here too. Scott Brown, who has shown the American people that he is [emphasis added] a Democrat at heart, and the two usual suspects, Olympia Snowe, and Susan Collins gave Obama a veto proof bill. All three are northeastern style Republicans who always seem to side with the Democrats on the issues of increased regulation and further control of individual American's freedoms.

Believe me, it will take years to just scratch the surface of the new law and the new regulations, most of which haven't been written yet. We are only now witnessing some of the tricks and manipulations the Health Care bill is giving birth to.

Insurance Companies will have to provide preventive services to the public, free of charge. This will make companies make changes in their current consumer policies that could trigger the “grim reaper” clause for Consumer Insurance Policies that propels people into the Government run, single payer, health care system. It will also conceivably bankrupt insurance companies which will tighten the Federal Government's death grip on our economy.

Another nasty little secret from the Health Care bill is that our new Health Care Czar is rumored to be proposing a new tax. What the hell do taxes have to do with health care? It will be the BMI tax which already exists in one form in Alabama. For every point above “normal” a person's Body Mass Index is, he or she will be taxed more for health care. This would mean be I would be among the “heaviest” taxed individuals in the country. Boy do I hope this is just a rumor.

The so called “proxy access” provision in the new financial bill eliminates the use of financial derivatives by struggling companies to hedge against the onslaught of the downturn in the economy. “Derivatives” has become a dirty word in this Administration. Anything that helps companies large and small survive these troubled financial waters is under attack by this legislation.

The new financial realities are bleak. Every time a Democrat gets a hold of some new tool to control American's lives you know its going to cost you and I more of our dwindling incomes. It will extract more taxes from financial institutions and insurance companies which mean everything we use, consume or buy will cost more.

How much more control of our lives are you willing to give to this cannibalistic, all consuming Democratic Party and this Administration? Its time Americans took a stand to protect and preserve our Republic if its not already too late. If the Republican's take the House back then you can rest assured the the days between November 2nd and January 20 will be among the most dangerous in regulatory history for this country. A Lame Duck Congress is the most dangerous animal known to mankind. November is coming. Will it come too late?