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Dodd-Frank is an Unconstitutional Disaster

crescen7 Wrote: Jan 26, 2013 7:09 AM
This is an extremely important issue. This repugnant Legislation has crushed capital formation in the country. There has not been a new bank formed since 2009. The concentration of capital in 6 major financial institutions (which operate as virtual government utilities) has stagnated new business growth to a point of non-existence. Hopefully more Governors will instruct their AG's to join the litigation.

In his first term, President Obama passed two of the most sweeping expansions of federal power in history. The first, his federal takeover of the health care system, narrowly survived at the Supreme Court thanks to the refashioning of its mandate into a tax by Chief Justice John Roberts. The second , his federal takeover of the financial system, may not fare as well.

That law, Dodd-Frank, is being challenged in State National Bank of Big Spring v. Geithner. The lead plaintiff is a community bank that has had several of its business lines shut down by Dodd-Frank....