We have here again, a great misfortune for each and every one of us that hold a bank account or credit card. In it's never ending attempt at socialism, Congress is seeking to overhaul the financial rules in the name of nobleness that truly isn't.
While there is no doubt that the financial industry has it's own misgiving's in it's legal robbery of We the People, I hardly find the ties of some politicians writing the law less than most uncomfortable for any clear thinking American.
A slight glimpse into the never ending grab of freedom and liberties reveals that the legislation is the most ambitious rewrite of financial regulations since the Great Depression. Of course our ill fated bureaucratic pin head leaders allegedly aim to prevent a repeat of the 2008 financial crisis that propelled the economy into a deep recession.
One would think Lawmakers would have realized that it was their greed and ignorance is what brought the economy to it's knees by proportionate amounts, but given their repeat of failures past, it is highly doubtful.
It is precarious to me how people like Sen. Chris Dodd, whose wife, Jackie Clegg, serves on the board of CME Group Inc. has the audacity to end his tenure of corruptible leadership in such a fashion. But there and again we are talking about Chris Dodd, a "Teflon Political Don" so to speak in his own mind.
You see CME Group is a little known company to We the People, but has managed to spend at least $2.9 million since January 2009 lobbying on federal issues that include the financial regulation overhaul.
Interestingly enough, CME Group, formed when the Chicago Mercantile Exchange, Chicago Board of Trade and the New York Mercantile Exchange merged. It's obvious and apparent morph at greed is excessive and rightfully so. CME is the world’s largest futures and options exchange and as such, it has a huge stake in the overhaul.
Exchanges charge a fee for processing trades, and under the legislation, derivatives traders would have to execute over-the-counter swaps through the exchanges. CME has opposed that requirement, putting it at odds with the Senate bill.
Clegg received $153,219 in compensation from CME Group last year, divided between cash payments and stock awards, CME filings with the Securities and Exchange Commission show. Clegg’s CME stock was worth $252,642 as of the end of 2009, the latest date covered by Dodd’s new personal financial report disclosed Wednesday. Since then, she’s acquired more CME stock.
We the people need not fear though as we have been reassured that Clegg “has never been lobbyist and has gone above and beyond to ensure that her work remains absolutely independent of Senator Dodd’s work, including personally hiring an ethics attorney to review her work,” Dodd spokesman Bryan DeAngelis said in a written statement. How comforting. One can be sure that the Dodd's never speak of business in their natural course of marital bliss.
Although this is not the first time Dodd has had a personal - financial connection to an industry he’s taken a lead role in regulating, it is a greater slap in the face of those that he represents. Accordingly however we can be assured of this. The pattern of greed by the liberal democratic majority is far reaching in respect to the financial liberties We the People face.
Whether or not the permissible act of corruption remains is dependent on whether or not honest, hard working people of ethics are elected to replace the corrupt incumbents. Given the party establishments slate however, this hope of true leadership is of course is non existent. As such, the status quo of a further permissible act of corruption remains.
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