Wednesday, June 25, 2008

Dodd Squad

Does tracking all your electronic business come to mind when you think of "things a good government should do?" Well, you can thank Sen. Dodd for it, should it come to pass, according to Freedom Works.

The man appears to be somewhat brazen.

In the position of Chairman of Senate Banking Committee, he takes favors from banks. Notorious banks. Then we learn he has them drafting up their wish lists, which he sponsors as law. Not only do they get a bailout that is likely to cushion them from significant damages resulting from bad business met with bad policy, but government gets a front row seat in the wallets of the largest group of employers (and employees) in the country, small business.

Summarized as "various housing related tax measures," there's a little provision entitled "Payment Card and Third Party Network Information Reporting," which, surely, must somehow be instrumental in "Foreclosure Prevention". It could probably be sketched on the back of a napkin something like this: "Get them to give us their PIN numbers. Get banks to get off their backs." That is, I suppose, the essence of effective government. In the Soviet school.

Soon-to-be-former-Senator Dodd, you did this all for a little "VIP" action? I wouldn't bet on it.

It looks like a supersized quid-pro-quo. Big gov bails out big biz. Big biz agrees to help make big gov bigger. But what on earth does the Senator from the Constitution State gain for his aggressive and creative "lawmaking?" And which of the good state's good people was he representing, so effectively?

Then there's something of an irony about a representative from a State whose residents pay no income tax being the point man in getting the IRS into every Tom, Dick, and Harry's checkbook.

[This was also picked up by this from a blog called The Economic Policy Journal]


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