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Retiring Senator Chris Dodd's financial reform bill is now open for debate in the U.S. Senate. For the next few weeks, the public will be treated to media sound-bite snippets of Senatorial debate on various aspects of the Senate version of the reform bill. The bill is supposedly designed to prevent a replay of the 2008 crisis, in which 75 years of Federal financial reform laws proved utterly useless in preventing the crisis.

Rule: Whenever Federal regulation fails to prevent the negative outcome that has just come out, Congress adds more regulation.

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August 26. 2009, The Corbett Report


In an interview released today by Digg and the Wall Street Journal, Treasury Secretary Timothy Geithner was pressured about the growing popular movement to Audit the Fed spearheaded by Texas Congressman Ron Paul.


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What happens next if the state can go bankrupt?
 

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