Oh, you remember Rep. Waters, don’t you? Who could forget her comments regarding Fannie Mae and Freddie Mac? Just in case, here’s a reminder:

Uh, um, hell yes, there was a big problem with Fannie Mae and Freddie Mac, Rep. Waters.

But wait, there’s more. Here is Rep. Waters revealing her true position on the government’s role in terms of Big Oil:

Okay, okay – I couldn’t resist that version. Too funny. Here is the real version:

Yes, all of that stuttering trying to cover up what she had just said is real. Yowzer.

Now, personally, I think Rep. Waters has demonstrated a complete and utter lack of integrity when it comes to financial issues, judging by her comments on Fannie and Freddie. So have Dodd and Frank, for that matter. That the latter two are the authors of a financial regulatory bill should give great pause to everyone.

So, it really should come as no surprise that now she wants to legislate quotas into the new Dood-Frank Financial Regulatory bill. Oh, how I wish I was kidding. According to this Daily Caller piece, that is exactly what Rep. Waters has done,
Racial Quotas in Dodd-Frank Financial Regulatory Bill:

The Dodd-Frank financial regulatory bill, ostensibly aimed at reforming Wall Street and preventing a future financial crisis, will impose racial and gender quotas on financial institutions if passed, according to economist Diana Furchtgott-Roth.

Section 342 of the bill will establish Offices of Minority and Women Inclusion in at least 20 federal financial services agencies. These offices will be tasked with implementing “standards and procedures to ensure, to the maximum extent possible, the fair inclusion and utilization of minorities, women, and minority-owned and women-owned businesses in all business and activities of the agency at all levels, including in procurement, insurance, and all types of contracts.”

So called “fair inclusion” will apply to “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.”

The provision goes on to assert that the government will terminate contracts with institutions they deem have “failed to make a good faith effort to include minorities and women in their workforce.” [snip]

Good grief. Quotas? Where does that leave “anti-discrimination” regulations, then? That question is answered here:

The provision goes on to assert that the government will terminate contracts with institutions they deem have “failed to make a good faith effort to include minorities and women in their workforce.”

Diana Furchtgott-Roth, former chief economist at the U.S. Department of Labor and senior fellow at the Hudson Institute, spotlighted the controversial section in an article at Real Clear Markets on June 8th. She told The Daily Caller that the law amounts to a quota system.

“This is a radical shift in employment legislation,” she said. “The law effectively changes the standard by which institutions are evaluated from anti-discrimination regulations to quotas. In order to be in compliance with the law these businesses will have to show that they have a certain percentage of women and a certain percentage of minorities.”

Furchtgott-Roth worries that this might be a harbinger of things to come.

“So what does this mean? Are we going to get rid of anti-discrimination laws all together and just put in quotas? Could this be what’s to come in other sectors?” she questioned. [snip]


Click HERE
to read the rest.

Yes, I would say this is a huge departure from anti-discrimination regulations. That a quota system is being buried in this financial regulation shouldn’t really come as a surprise, I guess. But still, it does.

Wow. Has it really been less than two years since the Democrats controlled all three houses? Sure seems longer, especially considering all they have shoved down our throats. Er, I mean, “accomplished.”

And I guess if Rep. Waters gets her way, we’ll have another one shoved down our throats. Yep, pretty soon, quotas for everyone, coming to a business near you soon!! Good grief…

  • Pingback: U.S. Commission On Civil Rights Not Amused By The Quotas In The Financial Reform Bill : NO QUARTER()

  • TeakWoodKite

    Your can click my heels 3 times anytime on that point. 🙂

  • Hope

    Why are the Obamas going to Maine for anohter vacation when they tell all of us to go the Gulf?  I quess Michelle didnt want to get oil on her dress?

  • M

    I read somewhere recently that white women have benefited the most from AA.   Well, walk a mile in my shoes.   I’ve had white managers whose testicles retreated into their abdominal cavity around black employees.  Pretty soon you become their whipping girl so that they can have an outlet for their frustrations.  In the end you have to just quit.  None of what is happening surprises me.  I saw what happened to Hillary coming from miles away.  I moved to SC about ten years ago.  I’m originally from the south but there is just something different about SC.  I tell my husband that we have front row seats for the apocalypse.  He says we got the last available seats on board the titanic.  I’m actually glad things are turning out the way they are.  This is a burden everyone should share.  When I was young and my mom would take me to school on the first day she would always ask me why I didn’t say hello to Antwan who would always say hello to me.  It was simple to me.  I didn’t like him.  Attending school with black people was a novel idea to her so apparently that meant that I should say hello to him.  I imagine if you are from some area where you rarely encounter black people, the chance to vote for Obama must have some magical effect.  What was the name of that movie?  Look Whose Coming to Dinner?  Maybe the name of our movie should be Look Whose Finally Having the Black People Over for Dinner. 

  • carol haka, a Carr’s Poppy and Sesame Cracker

    Don’t waste your time with us.  Enjoy your family.

    We are praying for all of our Military and America.

    :'(

  • Sassy

    I had only seen a ticker of Water’s provision, so thanks for the entire picture Amy.
    Call me crazy, but fiscal sanity by the legislature offers the best opportunity for jobs and advancement for everybody.
    Look at the turmoil in Greece and other European countries, and that is not fueled by racial issues, but by over-spending.
    The financial bill will pass, and analysts report that Goldman will be very happy with it. Warning bells ringing for me!

  • creeper

    Street:  “While Obama’s election was arguably a grand symbolic victory over white racial prejudice at one obvious level, it has reinforced the longstanding majority white belief that racism no longer poses any significant barrier to black advancement and equality in what candidate Obama called “this magical place”(the U.S.). Obama has not lifted a finger or taken one serious risk to challenge that grossly inaccurate belief or to address the specific forms of deepening combined race and class oppression being experienced by tens of millions of working-, lower-, and middle- class black Americans and other minorities.”

    Oh, bullshit.  They’re hurling the race cards faster than Bicycle can turn ’em out. 

    As for Barry being a tool of the corporate interests, any CEO who trusts him deserves the government takeover that will follow.

    We’ll be paying the price for our kool-aid binge for years after Barry is gone.  Much of the legislation passed by the 111th Congress will not go into effect until far down the road.  If you think it’s bad now, just wait.

    http://www.politico.com/news/stories/0710/39585.html

  • creeper

    There is no way in hell that dress isn’t an in-your-face statement.  Nobody…not even Meechelle…could be that oblivious.

    The message is perfectly clear.  “Fuck you.  We won.”

  • creeper

    susiepuma, it’s even worse than you think.  mr. creeper has a small machine shop, doing specialty work in support of what few local manufacturers are left.  He says not only are we losing the factories, we are also losing the know-how to re-establish them if the opportunity ever presents itself.  The loss of knowledge is as great a catastrophe as the loss of capacity.

    Of course, we the consumers are responsible in large part for this.  We had to have it all…now…cheap.  We even lied about our motives.  “I didn’t buy a Toyota because it was cheaper.  I bought it because it was better.”

    I wonder how many Toyota owners who said that are still driving their Corollas.

  • creeper

    Oh, Teak…thank you for that.

    I just spent sixteen days touring the west.  It was an experience I’ll never forget.  There were some places that were so different from what I’m used to around here that I thought I was in a foreign country.  And I’m not talking about the topography.

    It’s taken me a while to figure out the lesson from that trip.  Dorothy had to go to Oz to learn it.  Happily, I only had to go as far as Washington.

    There’s no place like home.

  • Keebler-Katmoon Multigrain

    No lunatic Docelder, you make sense. It does suck, and I am not going by the way with either group as I see them today; they are playing tug of war with us, and it doesn’t feel good at all.  Any group that isn’t four square with the Constitution, is lost to me forever.

  • HC Sesame Flatbread 123

    This bill is channeling the spirit of Smoot-Hawley. 

  • Annie Ak Mak Cracker

    I have absolutely no problem with that plan.

  • Annie Ak Mak Cracker

    Maybe that’s where they get those shit eating grins.

  • Annie Ak Mak Cracker

    Sounds right.

  • Annie Ak Mak Cracker

    Well, that’s a relief.  On your recommendation, I won’t even let them in the door at my house.

  • Annie Ak Mak Cracker

    I did get to see most of it.  Great that he played back Baby Doc’s speeches with references to his “salvation” can only be had with the greater salvation of society.  Actually, he has it bassackwards.  If he finds salvation, he influences others as an example.  The old lesson of 1 in 100.  If one person finds peace within themselves, they influence at least 100 others toward more peaceful thought and action. Or looking to Socrates as the great ethical teacher…taught completely by example.

    As Glenn said, Black Liberation Theology is all about looking outside for blame, restitution, vindication, and punishment rather than looking within for self knowledge and resolution.   
     
    I am truly not responsible for another person’s evolution.  I’ve always known that but it’s really coming home lately.

  • Annie Ak Mak Cracker

    I did get to see most of it.  Great that he played back Baby Doc’s speeches with references to his “salvation” can only be had with the greater salvation of society.  Actually, he has it bassackwards.  If he finds salvation, he influences others as an example.  The old lesson of 1 in 100.  If one person finds peace within themselves, they influence at least 100 others toward more peaceful thought and action.  As Glenn said, Black Liberation Theology is all about looking outside for blame, restitution, vindication, and punishment rather than looking within for self knowledge and resolution. 

    I am truly not responsible for another person’s evolution.  I’ve always known that but it’s really coming home lately.

  • elaine

    Vote the Dems OUT!!!!

  • Cindy

    LOL candymarl!

  • Cindy

    Onofre—I think you’re exactly right. Michelle certainly appears to be mocking with that choice of dress!

  • Cindy

    ~JustMe~
    That’s so unbelievably true! And just when you think they can’t stoop any lower!

  • bayareavoter

    I used to like both of them; and they were big Hillary supporters long past the time others had deserted her. But now I can’t stand ANY of them 🙁