July 27, 2011
Regarding the Dodd/Frank bill -
1) The Foreign Exchange Committee just released reports stating that spot transactions in the U.S. have declined dramatically since it's inception, where as The London Foreign Exchange Joint Standing Committee shows a 32% increase in spot transactions for the same period
2) European Hedge Funds have almost doubled in the last six months
3) Soros's Quantum Fund had to close because of this
4) The financial industry is bracing for huge cost increases due to this bill, wich of course will be passed on to the investor, who will move the money overseas
(look at the data if you don't believe me)
5) There is no clarity, common sense or balance in this bill.
6) Federal Tax reciepts will suffer trillions of dollars of lost revenue over the next decade, when we need it most
I could go on, but please consider the ramifications of your policies before you do anything PLEASE