So What Does Dodd and Barney Know About Farming Anyhow

Probably not much, but their “financial reform” package is going to affect farmers all across the land.

Farmers use derivatives to even out the price for their products.  Market fluctuations especially at harvest time can destroy a growing season.  By using derivatives farmers can “lock” in prices and assure a known price for their product.

Farmers are worried the Dodd / Barney bill will affect how they do business.   Farmers use derivatives to manage risk and they have been using derivatives in the form of futures contract to manage risk since after the Civil War.

While the neglect and denial of Freddie and Frannie problems by Dodd and Barney had a lot to do with the economic troubles, Dodd and Barney are assuring their place in history by fixing the problem, in another 2,000 page rewrite of American business in a bill few understand nor have read.

Designed to fix problems that helped cause the financial crisis, the bill will touch storefront check cashiers, city governments, small manufacturers, home buyers and credit bureaus, attesting to the sweeping nature of the legislation, the broadest revamp of finance rules since the 1930s.

And we are trusting Barney and Chris to write it?  Where are their Degrees in Economics from?  Answer: Nowhere.

Shouldn’t this be debated page by page and the American public and the real experts in business and finance given a chance to weigh in?

From the Declaration of Independence:

‘He has erected a multitude of new offices, and sent hither swarms of officers to harass our people, and eat out their substance’