A defeat of this bill would help avoid a double dip recession. The bill is dishonest because it does not deal with Fannie or Freddie, the main engines of our collapse.

By Eric Singer at The Daily Caller

Congress will break this weekend not quite done on “financial reform.” A defeat of this bill would help avoid a double dip recession. The bill is dishonest because it does not deal with Fannie or Freddie, the main engines of our collapse. The bill’s deafening silence on these two institutions means it is posturing, not helping. In the short term, which is what you would think Congress cares about, the bill is deflationary because it takes precious capital from the banking industry while cutting alternatives available to consumers. It is not a coincidence that the stock market is breathing heavily and making new lows as the prospects for this “overhaul” have brightened.

Some of the main features of this bill and its draw backs appear to be:

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