Financial Reform Falling Under Criticism For “Missing The Mark”
Financial Reform Falling Under Criticism For “Missing The Mark” by Gabriel Rodriguez
Millions of hard-working Americans will soon be facing some drastic changes to their already limited finance options soon if a new proposed financial reform bill is passed. Although many hard working families already find it tough to find finance when they are in a bind, the new financial protection bill is already being criticized for potentially eliminating jobs and consumer credit options during our economic crisis.
Senator Chris Dodd’s proposed financial reform bill is the government’s response to the recent subprime mortgage crash and the following economic crisis, but some argue that the aim of the bill misses the mark entirely. It seems that financial giants such as Freddie Mac and Fannie Mae who are allegedly responsible for creating our economic situation have escaped any reforms at all, while those offering small consumer loans and finance options will apparently be paying penance for an economic situation which they did nothing to create.
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