The Federal Reserve Act of 1913 totaled 31 pages. The Glass-Steagel Act of 1933 totaled 37 pages. The Interstate Banking Efficiency Act of 1994 totaled 61 pages. The Sarbanes-Oxley Act of 2002 totaled 66 pages. The Gramm-Leach-Bliley Act of 1999 totaled 145 pages. The Dodd-Frank financial regulation bill of 2010 totaled 2,319 pages (did anyone read it?).

 “One of the methods used by statists to destroy capitalism consists in establishing controls that tie a given industry hand and foot, making it unable to solve its problems, then declaring that freedom has failed and stronger controls are necessary.”

 By signing the Dodd-Frank financial regulation act, President Obama has almost completed restructuring America into a police state of vast proportions. For the first time, the government will have access to every financial transaction in the United States. Why? Where does the Constitution allow the government this onerous power?

 The legislation creates another huge bureaucracy in the Consumer Financial Protection Bureau (CFPB), whose responsibilities include policing lending, capping interchange fees charged by banks, and allowing retailers to set minimum and maximum limits on debit card purchases. Why? Where does the Constitution allow the government this onerous power?

 Prior to the financial meltdown in 2008, the Democrat controlled Congress manipulated Fannie Mae-Freddie Mac policies to encourage riskier loans on sub-prime mortgages. When responsible Republicans attempted to tighten up policies for Fannie Mae and Freddie Mac in 2005, Democrats Barnie Frank and Chris Dodd led the charge to protect Fannie Mae and Freddie Mac. Ironically, the very people who were complicit in causing the meltdown found themselves in power and wrote the new financial regulation bill. But they omitted Fannie Mae and Freddie Mac from this bill.

The new regulations are so onerous in restricting bank earnings that banks, like airlines, will start eliminating free services and start charging for small services. Start with the elimination of free checking.

 The new law allows the federal government to take over a non-bank financial company without due process of law. The law only requires that someone deem a non-bank’s financial condition a threat to the United States. Why? Where does the Constitution allow the government this onerous power?

 The bill allows the federal government to force companies to “register” with a government “Board of Governors” that then controls the companies. This is the beginning of the National-Socialist movement as seen in Italy and Germany prior to World War II.

 The law also includes numerous provisions that have nothing to do with financial security. For example, the law makes it easier for unions, environmental groups and other activist organizations that hold shares to put their representatives on the boards of directors of every corporation in the United States.

 The law forces new burdens on airlines, utilities and other non-financial businesses because they use financial derivatives to hedge their businesses against risks such as fluctuations in oil prices, interest rates and currencies, practices that were not related to the financial meltdown.

  The law requires financial institutions and agencies that contract with the federal government to adhere to race and gender quotas. The law requires establishment of the Office of Women and Minority Inclusion  (this is not a joke). The Treasury, FDIC, NCAU, the Federal Reserve, and all federal regulatory agencies shall establish an Office of Women and Minority Inclusion within the agency. The Office shall be staffed with a Director and unknown number of staff to to develop policies promoting equal employment opportunities and racial, ethnic, and gender diversity of not just the agency’s workforce, but also the workforces of its contractors and sub-contractors. to develop policies promoting equal employment opportunities and racial, ethnic, and gender diversity of not just the agency’s workforce, but also the workforces of its contractors and sub-contractors. to develop policies promoting equal employment opportunities and racial, ethnic, and gender diversity of not just the agency’s workforce, but also the workforces of its contractors and sub-contractors. to develop policies promoting equal employment opportunities and racial, ethnic, and gender diversity of not just the agency’s workforce, but also the workforces of its contractors and sub-contractors.develop policies promoting racial, gender and ethnic diversity of not only the agency’s workforce but also the workforces of its contractors’ and subcontractors’ workforces. Why? Where does the Constitution allow the government this onerous power?

President Obama’s health care legislation shreds the Constitution. For example, for the first time in our history, for failure to obtain health insurance, the government can penalize an individual up to $1,900.  In addition, the government can charge the individual with a misdemeanor carrying a one year prison sentence or a $25,000 penalty.

 The new health care law also provides for 16,500 IRS agents to enforce mandatory health insurance on every American, whether we like it or not. Why? Where does the Constitution allow the government this onerous power?

 Obama does not care about or respect the Constitution. It is about power and control. Obama stated in his campaign, “We cannot continue to rely on our military in order to achieve the national security objectives that we’ve set. We’ve got to have a civilian national security force that’s just as powerful, just as strong, just as well-funded.”

 President Obama’s thirst for power knows no limits. The administration that cannot be trusted to observe the limitations of the Constitution must be removed from power. The 2010 election is the only election that stands between a free America and an Obama police state.