I cannot understand all the financial vibes being produced by the legislation and the suit against Goldman Sachs, but I know we have posters who do.

In reading around (and not understanding) there are two articles this morning that got my attention and perhaps some of you gurus can share with us...maybe I am the only one...but share with me then...

First of all, read this article that says that the government is turning our financial companies like Goldman into the old ATT's in that the rules that will be put into place will allow lots of government meddling into their business but give them in turn lots of government influence !

"The financial overhaul bill creeping toward law is more than a thousand pages, but it has a simple story line. President Barack Obama and the Democrats have decided to turn Goldman Sachs Group Inc. and a few other financial giants into organizations that resemble ATT Corp. in the 1950s"

http://www.bloomberg.com/apps/news?p...d=aATP..yenY9c

The second article details how the current legislation will empower the unions (public, which are the largest) .


"While Democrats are busy decrying the growing influence of corporations on politics, little is said about the growing influence of politics on corporations.

The Dodd bank bill won't shift the $130 billion coveted by the SEIU out of bank bonuses and into the raises of schoolteachers and bureaucrats, but it will make it possible for public employees to start pressuring the banks to change their practices from the inside out.

So when you see public employees and the refugees from ACORN out in the street this week decrying Wall Street greed, remember that they are not fighting to take power away from big banks, but to instead control that power themselves."

http://www.washingtonexaminer.com/po...-92054474.html

Now, the second is obviously an opinion piece but wondered what some of you folks who follow and understand this stuff actually think about it.

Seems to me, that as always, the devil is in the details !!!