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139 Public Comments So Far

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January 14, 2015
Someone from Carlsbad, CA signed.
January 14, 2015
Someone from New York, NY signed.
January 14, 2015
Someone from Lancaster, PA writes:
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Should you gut the Dodd- Frank Bill, you open the door to unfettered greed... which is neither good morally, but it is dangerous economically and politically
January 14, 2015
Someone from Chicago, IL signed.
January 14, 2015
Someone from New Rochelle, NY writes:
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HR 37 would gut DFA and significantly increase the chances of another 2008-style meltdown. Please vote against it. --Kimberly Christensen, Economics Professor, Sarah Lawrence College
January 14, 2015
Someone from Portland, OR signed.
January 14, 2015
Someone from Albuquerque, NM signed.
January 14, 2015
Someone from Richmond, ME signed.
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Someone from Los Angeles, CA writes:
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I will not bail out another bank for doing the same things that caused the last financial crisis.
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Someone from Lakeville, MN signed.
January 14, 2015
Someone from Brooklyn, NY signed.
January 14, 2015
Someone from Clemmons, NC signed.
January 14, 2015
Someone from High Rolls Mountain Park, NM signed.
January 14, 2015
Someone from Manchester, CT signed.
January 14, 2015
Someone from Mesa, AZ signed.
January 14, 2015
Someone from Sprakers, NY signed.
January 14, 2015
Someone from Galesburg, IL writes:
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We do not need a replay of 2008.
January 14, 2015
Someone from Crawfordville, FL signed.
January 14, 2015
Someone from Hot Springs National Park, AR signed.
January 14, 2015
Someone from Sylva, NC signed.
January 14, 2015
Someone from Oakland, CA signed.
January 14, 2015
Someone from San Jacinto, CA signed.
January 14, 2015
Someone from San Francisco, CA signed.
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Someone from Ithaca, NY signed.
January 14, 2015
Someone from Philadelphia, PA writes:
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It is troubling that instead of addressing the problems of "too big to fail" you instead encourage these institutions to put us at risk again. We the people have suffered enough at the hands of these institutions. Protect us from further abuses.
January 14, 2015
Someone from Raleigh, NC signed.
January 14, 2015
Someone from Reno, NV writes:
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You may be aware of this aspect of banking, but Dodd-Frank is not a typical political squabble in Congress because of it. At issue is OUR DEPOSITS in banks. Because those deposits are loaned out, leaving only a small reserve in the vaults to supply our demand for our own money, a multiplier effect is set up for the money supply. Just go on Wikipedia and look up fractional reserve banking. There?s a section of the article that explains the multiplier. When there is a crisis in the banking system, as there was during the 1980?s in the savings and loan industry and there was in 2008 on Wall Street, the multiplier freezes up. The banks can?t get back our money that they?ve loaned out. Now those are two crises that were directly caused by deregulation of the banking system. Savings and loans were not allowed to raise their interest rates when Paul Volcker raised the fed rate to combat inflation in the 1980?s. So the deregulators in Congress allowed savings and loans to take ownership positions in projects to which they loaned. They put our money into real estate all over the country, so many projects that there were miles of unoccupied condos, shopping malls and office buildings down in Texas and elsewhere. They couldn?t make money on interest rates, so S&L?s went on a building spree to make money, a spree motivated by their need to make money on our deposits not on supply and demand in the real estate market. Michael Milken recruited a team of brokers to marshal piles of $100,000 deposits that he put into savings and loans in exchange for the S&Ls? purchases of his worthless junk bonds. In the last decade, the banks marshaled armies of brokers to write bad real estate loans, fueled by their greed to make money on our deposits and not based on supply and demand in the real estate market. They paid Standard & Poors to lie about the quality of those loans, then sliced and diced them into securities that hid the unacceptable risk in those securities and sold them to the public. In this latter episode, they struck from both sides. They loaned out our deposits to finance bad real estate loans and then the derivatives they sold to the public were financed by more bank loans to their customers. You know like $33 of loans to every $1 of a customers own money!! You can see why the banking system froze up. In the London Whale case at JP Morgan, they used $300 billion of idle deposits to invest in the derivatives market, investments that had wracked up $6 billion of losses of DEPOSITS when the case went public. JP Morgan eventually reduced that loss to $2 or $3 billion. But Jamie Dimon complains on the front page of Bloomberg News today that he?s besieged by regulators!! You might want to inquire whether he submitted an insurance claim to the FDIC!! Suffice it to say the bankers have shown us on two occasions when we?ve deregulated that they cannot be trusted. They?re using Other People?s Money that, because it is the money supply,
January 14, 2015
Someone from Magalia, CA signed.
January 14, 2015
Someone from Brooklyn, NY signed.
January 14, 2015
Someone from Nixa, MO signed.
January 14, 2015
Someone from Federal Way, WA writes:
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Where are the people protections?
January 14, 2015
Someone from Fresno, CA signed.
January 14, 2015
Someone from Charlotte, NC writes:
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It is indicative of Congress members' collective lack of concern for the public, that those of us ordinary blokes whose pensions have been decimated by Wall Street greed have to spend our time in fruitless petitioning while Congress listens to Wall Street lobbyists. You, with health care and pensions provided by us, have to ask yourself for a moment if you have an ounce of integrity, who benefits from gutting Dodd-Frank?
January 14, 2015
Someone from Evergreen, CO signed.
January 14, 2015
Someone from Hobbs, NM signed.
January 14, 2015
Someone from Binghamton, NY signed.
January 14, 2015
Someone from Chicago, IL writes:
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If you believe financial institutions have learned their lessons, look at what is currently happening with Ocwen. Strong and enforced regulations, or a new congress.
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Someone from Cleveland, OH signed.
January 14, 2015
Someone from Pacifica, CA writes:
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I dont believe the taxpayers should be insuring the risky investments such as derivatives by large finacial institutions. Moreover I think a well regulated market is in our nations best interests. That is why America is seen as a good place to invest. I am paraphrasing Adam Smith.
January 14, 2015
Someone from Delta, OH signed.