In light of earlier comments and actions by the aforementioned in relation to discrimination, most recently highlighted by revelations surrounding the Justice Dept./Obama Administration’s support of the New Black Panther Party against a clear cut case of racism and voter intimidation, another newly discovered provision hidden within the “Financial Reform Bill” – Restoring American Financial Stability Act of 2010 (S 3217/HR 4173) currently undergoing Senate compromise revisions over the House passed version yet again promotes escalating levels of discrimination.
Section 342 of the Dodd/Frank Bill stipulates requirements for race and gender employment ratios within all Government Financial Related Departments & Agencies as well as private financial institutions that do business with the Gov. (virtually all) as well as all related contractors and sub-contractors. A minimum of 20 Government Offices of Minority and Women Inclusion are to be created. Each of these would have a director and staff to develop policies promoting equal employment opportunities and racial, ethnic, and gender diversity of not only their own agency, but also that of its contractors and sub-contractors as noted above. Sufficient laws already protect against discrimination in the workplace. What this provision will undoubtedly accomplish will be sub-par results and the degradation of productivity due to the hiring of unqualified candidates and the promotion of ill feelings within the workforce. Attempted workplace cohesion and compliance will come in some form of intimidation/penalty, which will ultimately lead to further negative outcomes.
Exempted from the bill among others are Fannie Mae & Freddie Mac, both widely responsible for the financial meltdown. These two failing agencies, with stock values of pennies per share continue to receive billions in infusions of taxpayer monies taken by the federal government. The sponsors of this bill Chris Dodd and Barney Frank are equally complicit in this failing if not outright criminally responsible through their incestuous and personally beneficially involvement through their supposed oversight positions of these groups and the banking industry.
This bill has many other questionable provisions. Unfortunately it is being forced along by those who fear a backlash against supporting ANY legislation towards even perceived financial reform after past enforcement and proper oversight by the Government by self-serving crooks enriching themselves instead was not occurring. There is no reason to believe that this bill would accomplish anything different other than to again permit more harm than good.
Click on the link below for more details.
http://corner.nationalreview.com/post/?q=MDY3ODRiM2Q3ZThkMTFhMTM0NWMxOWY5MmY5NzNiM2Q=
Replies