Quotas Hidden in Bank Reform Bill
CBS/AP
NewsMax informs us that the new financial-regulation bill just passed will impose onerous demands for racial and sexual quotas that will cost us millions to enforce and imposes on us a whole new layer of regulation.
Diana Furchtgott-Roth, a senior fellow at the Hudson Institute who served as chief of staff for former President George W. Bush’s Council of Economic Advisers says that passage of this bill “means financial firms seeking to do business with the government will have to verify the racial and gender composition of their subcontractors — including office-cleaning crews, paper-shredding vendors, office-party catering firms — if they want to do business with the government.”
The bill’s affirmative action provisions — some suggest they are de facto quotas — would apply not only to the 29 federal agencies but also to all “financial institutions, investment banking firms, mortgage banking firms, asset management firms, brokers, dealers, financial services entities, underwriters, accountants, investment consultants, and providers of legal services” who do business with them.
It feels so hopeless to try to reform government and make the system smaller, when bills like this are passed.
Tags: financial-regulation bill Diana Furchtgott-Roth Hudson Institute Quotas NewsMax
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