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Even the Obama administration admitted, "We won't know how it works until we do it." This refers to the authority given to the president to enact financial regulations. Those rules and regulations haven't yet been written. But once they are -- even if they are too onerous -- Congress is powerless to stop them.
By passing this law, the Senate relinquished the power of the people. Never mind that George Washington said, "The power under the Constitution will always rest with the people." Since President Barack Obama took over, massive legislation passed by Congress cedes power to him and the various agencies he creates.
Senate Majority Leader Harry Reid and the senators who voted for this law, in effect, said to the people, "We no longer represent your best interests. All we're interested in is shifting the power to the president and his czars."
No good can come of this trend. The balance of power is upset, and we the people have lost our liberty and our self-reliance.
Thomas Jefferson observed that "government is best which governs least because its people discipline themselves."
Have we grown so weak, so undisciplined that we want a powerful president to rule over every aspect of our lives? (From personal health care control to financial regulation allowing the government to access to our bank accounts.) Think about what's being done to American citizens in the name of "taking care of us."
Jane Kenny
Bluffton
