The ROBS Act

[Octafish]

Truth in advertising, courtesy of Mr. Jim Hightower, Democrat of Texas:

The ROBS Act

Wednesday, 04 April 2012 13:13
By Jim Hightower, Truthout | Op-Ed

EXCERPT...

Clucking with sympathy, Congress' tea party Republicans have rushed to the side of these poor, rich financiers, pledging to unshackle them from "burdensome" regulations. Serving Wall Street is not all that popular these days with voters, however, so the Repubs and their Democratic allies have committed their own fraud in order to pass this bill, deceptively titled it the "JOBS Act" (even though it doesn't actually create any jobs).

Then they pushed it in the name of small businesses (even though they quietly defined "small" as a billion dollars a year in sales). In fact, the accent on the JOBS acronym should be on "B.S." Will it surprise you to learn that the word "jobs" isn't even included in the title? Instead, JOBS stands for "Jump-start Our Business Start-ups."

Alarmingly, the so-called "onerous" regulations that Congress eliminated primarily are the extremely useful financial disclosure rules passed a decade ago to prevent another Enron scandal.

The GOP House even tried to free financial hucksters from having to tell potential investors the names of the executives running the company and — get this — from providing such essential investor information as a description of what the company does and accurate accounting of its financial condition!

CONTINUED...

http://truth-out.org/opinion/item/8312-the-robs-act

Anyone remember the Savings and Loan bailouts?

It was the largest financial fraud in history, until the Great Wall Street Bailout of '08?

How about the next one? Anyone give a damn?