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View Full Version : Rep. Maxine Waters slips racial, gender quotas into financial regulatory bill




bobbyw24
07-12-2010, 04:22 AM
The Dodd-Frank financial regulatory bill, ostensibly aimed at reforming Wall Street and preventing a future financial crisis, will impose racial and gender quotas on financial institutions if passed, according to economist Diana Furchtgott-Roth.


Section 342 of the bill will establish Offices of Minority and Women Inclusion in at least 20 federal financial services agencies. These offices will be tasked with implementing “standards and procedures to ensure, to the maximum extent possible, the fair inclusion and utilization of minorities, women, and minority-owned and women-owned businesses in all business and activities of the agency at all levels, including in procurement, insurance, and all types of contracts.”

http://dc-cdn.virtacore.com/AP0912111250173-300x211.jpg

So called “fair inclusion” will apply to “financial institutions, investment banking firms, mortgage banking firms, asset management firms, brokers, dealers, financial services entities, underwriters, accountants, investment consultants and providers of legal services.”

The provision goes on to assert that the government will terminate contracts with institutions they deem have “failed to make a good faith effort to include minorities and women in their workforce.”

Diana Furchtgott-Roth, former chief economist at the U.S. Department of Labor and senior fellow at the Hudson Institute, told The Daily Caller that the law amounts to a quota system.

“This is a radical shift in employment legislation,” she said. “The law effectively changes the standard by which institutions are evaluated from anti-discrimination regulations to quotas. In order to be in compliance with the law these businesses will have to show that they have a certain percentage of women and a certain percentage of minorities.”

Furchtgott-Roth worries that this might be a harbinger of things to come.

“So what does this mean? Are we going to get rid of anti-discrimination laws all together and just put in quotas? Could this be what’s to come in other sectors?” she questioned.

The office of California Democratic Representative Maxine Waters confirmed to The Daily Caller that Waters is responsible for the insertion of this provision. Her office did not provide further comment, but did point to the Congresswoman’s June 18th letter to the Wall Street Journal for explanation. In the letter, Waters accused the paper of misrepresenting the mandate as requiring financial institutions to make loans based on race and gender.

“The provision does not even mention lending. The offices will only be responsible for employment, management and business activities of the agencies,” she wrote. “The provision is designed to broaden and improve the workforce of these agencies and expand opportunities for our nation’s small businesses—including minority- and women-owned businesses—to participate in programs and contracts instead of continuing to rely on the same ‘old boy’ network and handful of Wall Street firms responsible for the crisis in the financial markets.”

On July 1, Waters issued a press release explaining the urgency of mandating diversity.

“Many industries lack the inclusion and participation of people of color and women, perhaps none more egregiously than the financial services sector,” Waters said in the statement.

Read more: http://dailycaller.com/2010/07/11/racial-quotas-in-dodd-frank-financial-regulatory-bill/#ixzz0tSjSGxLA

jkr
07-12-2010, 07:47 AM
str8 white male here, guess im out...

paulitics
07-12-2010, 08:06 AM
This is a big deal. This makes it the law to discrimate against the white male.

I don't think people are understanding the magnitude of this here.

bobbyw24
07-12-2010, 08:18 AM
This is a big deal. This makes it the law to discrimate against the white male.

I don't think people are understanding the magnitude of this here.

That is already the law according to Bill Clinton's chairwoman of the United States Commission on Civil Rights, Mary Frances Berry who claimed,

"civil rights laws were not passed to protect the rights of white men and do not apply to them."[

Oh, but the TAX laws do apply to these people!

Imaginos
07-12-2010, 08:33 AM
Fair inclusion my ass.

paulitics
07-12-2010, 08:41 AM
That is already the law according to Bill Clinton's chairwoman of the United States Commission on Civil Rights, Mary Frances Berry who claimed,

"civil rights laws were not passed to protect the rights of white men and do not apply to them."[

Oh, but the TAX laws do apply to these people!

well, this would make it the law to discriminate against someone based on their race and gender, in this case white male. The laws did the opposite before, although due to political correctness perhaps there has been an unwritten law in place that has discriminated against some peple.

This is very bad because affecting the ability of one to make an income is perhaps the worst act of racism there can be.

Imaginos
07-12-2010, 08:53 AM
America needs to stop affirmative action, racial, and gender quotas for two reasons.

1. This drags down national/social competence level.
We have to compete with other countries in order to survive in global economy and we can't really compete when in other countries, the most competitive individuals getting jobs while in America that is not the case!
How can we compete with anybody when we don't hire people based on the ability but something else?

2. This is de facto discrimination against White male.
I am the one who can get benefit from this system (I am Asian) but this is plainly wrong!
People should not allowed to use race card or gender card to get ahead in the game.
And big government should NOT step in and institutionalize the discrimation against certain group of people
What a disgusting nonsense is this.

Stary Hickory
07-12-2010, 08:54 AM
Institutionalized racism ought to be illegal period. This is inexcusable and ignorant.

HOLLYWOOD
07-12-2010, 09:34 AM
White males pay taxes to have at least 20 new offices established to enforce race/sex quotas. It's down right felonous discrimination against white males.


Section 342 of the bill will establish Offices of Minority and Women Inclusion in at least 20 federal financial services agenciesBesides dividing and segregating the people by Racist Maxine Waters, this legislation obviously had to go through committee and others financial services members had to approve this piece insertion into the bill. Maxine Waters has ALWAYS been a Racist. Just use the search on her name on this forum.

let me guess the majority party members voted in favor:

Democrats

Rep. Paul E. Kanjorski (http://www.house.gov/kanjorski), PA
Rep. Maxine Waters (http://www.house.gov/waters), CA
Rep. Carolyn B. Maloney (http://www.house.gov/maloney), NY
Rep. Luis V. Gutierrez (http://www.house.gov/gutierrez), IL
Rep. Nydia M. Velázquez (http://www.house.gov/velazquez), NY
Rep. Melvin L. Watt (http://www.house.gov/watt), NC
Rep. Gary L. Ackerman (http://www.house.gov/ackerman), NY
Rep. Brad Sherman (http://www.house.gov/sherman), CA
Rep. Gregory W. Meeks (http://www.house.gov/meeks), NY
Rep. Dennis Moore (http://moore.house.gov/), KS
Rep. Michael E. Capuano (http://www.house.gov/capuano), MA
Rep. Rubén Hinojosa (http://www.house.gov/hinojosa), TX
Rep. William Lacy Clay (http://www.house.gov/clay), MO
Rep. Carolyn McCarthy (http://www.house.gov/carolynmccarthy), NY
Rep. Joe Baca (http://www.house.gov/baca), CA
Rep. Stephen F. Lynch (http://www.house.gov/lynch), MA
Rep. Brad Miller (http://www.house.gov/bradmiller), NC
Rep. David Scott (http://davidscott.house.gov/), GA
Rep. Al Green (http://www.house.gov/algreen), TX
Rep. Emanuel Cleaver (http://www.house.gov/cleaver), MO
Rep. Melissa L. Bean (http://www.house.gov/bean), IL
Rep. Gwen Moore (http://www.house.gov/gwenmoore), WI
Rep. Paul W. Hodes (http://hodes.house.gov/), NH
Rep. Keith Ellison (http://ellison.house.gov/), MN
Rep. Ron Klein (http://klein.house.gov/), FL
Rep. Charles Wilson (http://charliewilson.house.gov/), OH
Rep. Ed Perlmutter (http://perlmutter.house.gov/), CO
Rep. Joe Donnelly (http://donnelly.house.gov/), IN
Rep. Bill Foster (http://foster.house.gov/), IL
Rep. Andre Carson (http://carson.house.gov/), IN
Rep. Jackie Speier (http://speier.house.gov/), CA
Rep. Travis Childers (http://childers.house.gov/), MS
Rep. Walt Minnick (http://minnick.house.gov/), ID
Rep. John Adler (http://adler.house.gov/), NJ
Rep. Mary Jo Kilroy (http://kilroy.house.gov/), OH
Rep. Steve Driehaus (http://driehaus.house.gov/), OH
Rep. Suzanne Kosmas (http://kosmas.house.gov/), FL
Rep. Alan Grayson (http://grayson.house.gov/), FL
Rep. Jim Himes (http://himes.house.gov/), CT
Rep. Gary Peters (http://peters.house.gov/), MI
Rep. Dan Maffei (http://maffei.house.gov/), NY

ClayTrainor
07-12-2010, 09:55 AM
Maxine Waters gives me nightmares.

Deborah K
07-12-2010, 10:03 AM
If you're a white, hetero, Christian male in this country, you are the new politically correct target of hate.

coastie
07-12-2010, 10:42 AM
If you're a white, hetero, Christian male in this country, you are the new politically correct target of hate.

I'm white, so I'm just gonna start checking Latino or Asian...when I get called on it, make them define what white is...

YumYum
07-12-2010, 10:52 AM
If you have victims, there has to be victimizers. As an activist Ron Paul Democrat, I will fight against quotas.

RM918
07-12-2010, 11:14 AM
And no-one will care, because 'white people deserve it'. A claim made and pushed through by other white people of course, who will not be effected by this change.

pdavis
07-12-2010, 12:57 PM
“This is a radical shift in employment legislation,” she said. “The law effectively changes the standard by which institutions are evaluated from anti-discrimination regulations to quotas. In order to be in compliance with the law these businesses will have to show that they have a certain percentage of women and a certain percentage of minorities.”

Although I don't support the bill, no where in the bill does it mandate or call for quotas.

Stary Hickory
07-12-2010, 01:12 PM
Although I don't support the bill, no where in the bill does it mandate or call for quotas.

OH common it leaves it wide open for government to decide what is and what is not acceptable by an "undefined" racial criteria........how can it not be quotas? How can it not be racist, when the sole determiner the government is using is skin color to make decisions?

It is an outrage.

NewFederalist
07-12-2010, 04:45 PM
When do we get the four weeks vacation the first year ramping up to eight weeks by the end of 10 years? That should be in there along with the quotas. Oh, don't forget the 35 hour work week as well. The is the CHANGE we all HOPEd for!