Call it "reform"--the ticket to control our $$$

Need to Know by Laura Ingraham

6 things you need to know about the Obama/Dodd financial reform bill

GOP.com research:

1. Obama-Dodd Bill Creates $50 Billion Permanent Bailout Fund That Senate Democrats Plan To Keep. (Page 277, S. 3217, Restoring American Financial Stability Act Of 2010, Introduced 4/15/10; Carrie Budoff Brown, "Dems Stand By $50B Fund," Politico, 4/19/10)

2. Obama-Dodd Bill Could Lead To More Taxpayer-Funded Bailouts By Expanding Federal Reserve's Power To Establish "Policies And Procedures Governing Emergency Lending." (Page 1365, S. 3217, Restoring American Financial Stability Act Of 2010, Introduced 4/15/10)

3. Obama-Dodd Bill Could Make Taxpayer-Funded Bailouts Even More Expensive By Allowing FDIC To Make "Additional Payments" To Firms That Backed Failed Financial Companies. (Page 245, S. 3217, Restoring American Financial Stability Act Of 2010, Introduced 4/15/10)

4. Obama-Dodd Bill Uses Taxpayer Dollars To Guarantee Debt Of Banks And Bank Holding Companies Through The Power Of The Federal Reserve And FDIC. (Page 1379, S. 3217, Restoring American Financial Stability Act Of 2010, Introduced 4/15/10)

5. Obama-Dodd Bill Could Institutionalize Bailouts By Allowing A New Financial Oversight Council To Determine Which Companies Are "Too Big To Fail." (Page 35, S. 3217, Restoring American Financial Stability Act Of 2010, Introduced 4/15/10)

6. Federal Trade Commission Fears That Obama-Dodd Bill Could Have "Overall Result" Of "Less Protection For Consumers, And Fewer 'Cops On The Beat.'" (Federal Trade Commission, Letter To Sen. Hutchison, 4/16/10)

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