Well, folks, they did it again. Those little munchkins in D.C. passed the financial-regulatory overhaul bill this week. Wasn’t it satisfying to see slobbering Barney Frank and slimy Chris Dodd standing behind BHO as he signed the bill that is supposed to clean up the mess in the financial world that they among others helped create?
Of course, this 2,300 page monstrosity (almost as big as the health-care reform bill) has not been read by anyone, but they voted for it just the same. Dodd stated earlier that we wouldn’t really know how it will work until we vote it in and, you know, give it a little spin around the block. That sounds familiar, doesn’t it?
Here are a couple of little items in the bill that have popped up.
The Government Accountability Office will watch over the Fed especially when they make emergency loans. Of course it does not change how the U.S. handles a large firm’s failure. It is still turned over to FDIC (which is broke).
It creates another bureaucracy to make sure that banks who lend money to people make sure those people can pay it back. Say what? The financial world is in a real mess, it appears.
These are my favorites, though. Department of Housing and Urban Development will study the presence of Chinese drywall in homes to to be foreclosed on; firms that source certain minerals from the Congo have new disclosure requirements; stricter safety reporting requirements for coal mine operators; stricter reporting requirements for oil and gas drillers on payments they make to foreign governments. Yep, those rules will sure get those big bad banks in line.
Of course no one knows how much this is all gonna cost. But you can be darn sure it is gonna cost somebody money. My bet is it will be you and me. It always is, isn’t it?
Former U.S. Comptroller General David Walker said recently, “Government has grown far too big, promised far too much and delivered far too little for far too long.” Amen to that.
Addressed: Honorable Mayor Christensen,
I and my wife recently returned from a visit to Glenwood Springs, and we have commented how the city has changed since we left. During our visit we watched the local TV station, which broadcast the City Council meeting in mid June 2010. As we and our friends watched the meeting proceedings we all noticed and heard a very annoying and aggravating sound that at first we thought resulted from the local feed.
However, during the portion where the gentleman was presenting the finding of the Financial Department, you were shown reaching for some food items and proceeding to chew them. I found these actions very rude to the speaker and an embarrassment that you were not attentive to his important findings he was reporting on. If you must eat because of a health condition please insure your microphone is turned off or moved away so your sounds cannot be heard over the audio system.
I know council meetings can be long, but in my day, I don’t recall the time when recesses were not used to give the council and attendants a break. Sad to say the program was changed because of the annoyance being created by you, Mr. Mayor. Having edibles with friends at social meetings is fine, but eating at council meetings is not warranted as I see it, and I have served on many board and staff meetings in my 50 years in the working world (some 20 years right there in Glenwood Springs) and this action was not allowed during the meetings.
Mr. Mayor, show your guest and those appearing before City Council that you do care. Do not forget you were elected to serve the city and appointed to the mayor position by your fellow council members. My family and those who have moved on for various reasons do care about our former home, and many of us have cherished memories of the valley. Now, I must get on with other pressing matters, the oil coming in on our crystal white beaches; some accidents happen and we must deal with it, your actions were not an accident.
Garfield County attorney Quinn asserts that residents in Battlement should be happy with gas wells in the open areas close to our homes because it was “anticipated from the the beginning.”
The opposite is true. The writer has a 1989 Garfield County planning department document that states the open areas (in which the drilling is planned) will be transferred to the ownership of the homeowners association. In that case it would be up to the homeowners to approve drilling. That transfer of ownership never occurred. Rather, the Battlement Mesa Co., which retained ownership of the 1,500 acres of open areas between our villages, sold us out to drilling in our backyards.
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