Much of the 2,000-page draft of the Democrats’ finance reform bill could have been written by Acorn, and probably was. It has more to do with “civil rights” than consumer protection.

The devil is in the details of the monstrous new regulatory package, which Democrats hope to pass early next month. They reveal plans to reallocate credit and capital to the Democrats’ political base, while empowering race racketeers like Acorn with slush funds and advisory board seats.

The “Restoring American Financial Stability Act of 2010″ is, in fact, a massive redistribution scheme camouflaged as reform. Far from reforming easy-credit practices, the bill encourages more of the same reckless, politically mandated lending that brought down the entire financial system in the name of “affordable housing.”

Yes, the bill gives Treasury the power to liquidate banks that pose a threat to financial stability. But it essentially exempts minority-owned banks and those approved by Acorn-style urban organizers.

“The orderly liquidation plan shall take into account actions to avoid or mitigate potential adverse effects on low- income, minority or underserved communities affected by the failure of the covered financial company,” it says.

In other words, zombie banks laden with subprime and near-prime loans may be too PC to fail. Democrats call such immunity from reform “impact protections,” but Republicans aren’t buying it.

China has raised its US government debt holdings to the highest level this year, according to US Treasury data published Tuesday.

The Chinese government raised its US Treasury bond holdings to 900.2 billion dollars in April, its highest level since November 2009, the Treasury Department said in a monthly report on international capital flows.

China remained far ahead as the top foreign debt holder, followed by Japan, which held 795.5 billion dollars in April, and third-placed Britain at 239.3 billion dollars, according to the figures.

There has been an influx of investments into US Treasury bonds — a channel used by the government to borrow from the public to finance its burgeoning deficit — amid the mounting European debt crisis.

The latest Treasury data also showed that net foreign purchases of US securities rose in April but at a slower pace than the record set in March.

Net long-term foreign purchases fell to 83 billion dollars from a record 140.5 billion dollars in March.

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1) To help cover the $1 Trillion European bailout, the Federal Reserve is “loaning” $54 Billion to Europe. To “loan” this money, it is being printed out of thin air. Some sources say as much as half of the money currently being spent by the Federal government is either borrowed from foreign nations, borrowed from the public, or printed by the Federal Reserve. Yet, the Obama administration says this $54 Billion is “safe” because it’s not really a loan but a “swap.” The money is said to be “swapped” for Euros. (see item 2)

2) The Euro is plummeting. Since the Greek “crisis” began, the Euro has lost 15% of its value compared to the US dollar. Since the US dollar is also losing its value compared to hard assets, the total decline of the Euro is hard to measure.

3) The Greek crisis resulted from two major factors. About 25% of employed Greeks hold government jobs. Greece is bankrupt from massive debts. Government entities were forced to make cuts and lay off workers. Government workers unions turned violent and rioted in the streets.

Now compare this to the United States. Estimates range from 15%-17.5% of all employed Americans hold government jobs. Many of the Unions for these employees are extremely left-wing and at least one, the SEIU, engaged in acts of group violence to suppress conservative speech at health care “townhall meetings” around the nation. The US is already deeply in debt, and Obama is increasing that debt at an unprecedented rate. Across the nation in every municipality, county, and state, we are seeing dramatic tax increases. Many states and cities are also cutting government jobs or reducing benefits to employees.  Combine that with the fact that 40 million Americans receive foodstamps. A rapidly growing percentage of the US population either works for government or votes for a living (welfare). All while the US gets deeper and deeper in debt.

Photo Below: Marxist groups joined with government labor unions to protests cuts in government spending in Greece. The marches soon turned into full scale rioting and murder. Could it happen in the US?

E-mail everyone you know and tell them to come to CofCC.org and watch these videos. Post this link in every message forum and comment section of every newspaper website, craigslist, and blog you can find. This is full admission of guilt from the people who played large roles in creating the global financial crisis!

Copy and paste this link everywhere! http://cofcc.org/?p=4060

2005-2008 President and CEO of Fannie Mae called the Congressional Black Caucus the “conscience of Fannie Mae!” See more proof straight from the mouths of leading Clinton officials! Watch Bill Clinton’s HUD secretary brag about forcing banks to give out race based loans. Then when asked, he admits that these same race-based loans would be more likely to fail! Watch Barack Obama himself admit his involvement in forcing banks to give reckless race-based loans!

Barack Obama called subprime loans “a good idea.” He personally sued Citibank in 1994 to force them to give more loans to unqualified blacks! Citibank is now in shambles and a major recipient of the massive bank bailout. Barack Obama was at the FOREFRONT of forcing banks to give race-based loans for much of the past twenty years! Now Obama wants to give a $275 million bailout to “low income” [ie Black & Hispanic] borrowers that received loans they couldn’t afford. Obama was a leading player in forcing these banks to give the borrowers loans they couldn’t afford in the first place! This has come full circle, and Obama’s policies will only wreck the economy even worse.

You must watch the videos below.

Organizations like the CofCC are being denounced as “RACISTS” for pointing out that radical race-based lending promoted by Jimmy Carter, Bill Clinton, George Bush, and the Congressional Black Caucus is the number one root cause of the mortgage crisis that ignited a global recession!

Here is the proof. Not from us, but from Fannie Mae Interim President and CEO from 2005-2008 Daniel Mudd! Mudd is at ground zero of the global financial crisis. Watch Mudd refer to the congressional black caucus as Fannie Mae’s “family!” Watch Mudd brag and boast about the record number of loans given to blacks. Watch Mudd call the congressional black caucus “the conscience of congress,” and “the conscience of Fannie Mae.”

Fannie Mae was already in serious financial danger when this speech takes place. Yet, the company showered Barack Obama, and other Democrats with money so they would look the other way. House Republicans tried repeatedly to rein in Fannie Mae and Freddie Mac for years, but the congressional black caucus would scream “racists” and Democrats would thwart every effort.

You must see this speech!

More bombshells! Watch leading Democrat leaders demanding affirmative action loaning practices and suing banks!

Watch a leading Clinton official BRAG about how they sued a bank to get it to agree to give out Billions in affirmative action race-based loans. Then watch the same official admit that these loans would be more likely to fail. He admits point blank that loans will wreck the banks, but continued to harrass, pressure, and sue more banks anyway.

Banks were sued and forced to give out race-based loans to people [mostly blacks and Hispanics] who could not afford it!

Watch Congressional Republicans predict the financial crisis and try to stop it. Only to be shouted down by Democrats! Watch Bill Clinton himself admit that Republicans wanted to “tighten up on Fannie Mae and Freddie Mac.”

From China Daily…

Two Guangdong-based factories contracted to global giant Microsoft have been found guilty of illegal labor practices, including the employment of more than 300 16- to 18-year-old workers without registration. The companies will face administrative penalties if they do not change their work practices to comply with the law, authorities said.

The investigation was launched by the Dongguan human resources bureau, following a report from the United States-based non-profit organization National Labor Committee (NLC). Their report, released Tuesday, detailed long working hours, low pay, insufficient food and few freedoms for young laborers at the KYE Systems Corporation factory in Dongguan, South China’s Guangdong province.

Included in the report are claims that 16- and 17-year-olds work 15-hour shifts for about 50 cents an hour. They are prohibited from talking or using the bathroom during work hours, and sleep crammed in 14-person dorm rooms. They are only allowed to leave the factory grounds at certain times, the Associated Press reported on Friday.

Taiwan-based KYE assembles and packages hardware products for Microsoft and other companies.

KYE owns two factories in Dongguan – Kunying Computer Products Company and Xieying Computer Products Company – which employ nearly 4,000 workers, according to Friday’s report from the Dongguan human resources bureau, the local labor administration authority.

From Yahoo News…

With 22 pen strokes, President Obama signed into existence not just a historic healthcare reform law but also monumental piles of paperwork: New member registration forms. More claims. Ever-expanding databases. And on top of that, pressure to cut costs.

The bulge in administrative work may look like a nightmare to American insurance firms and government employees. But to outsourcing executives here in India, it’s heaven-sent. A number of Indian companies are already anticipating an increase in workload thanks to Obama’s healthcare law.

The addition of 32 million insured Americans is “very significant” for Indian outsourcers, says Ananda Mukerji, chief executive officer of Firstsource Solutions in Mumbai. Companies like his will see “increased opportunities” as US health insurers and hospitals scramble to reorganize to comply with the new law, he wrote in an email to the Monitor.

This extra work will include processing new enrollments, organizing bigger member databases, processing more claims, providing more support services, and managing more revenue, he says.

In particular, outsourcers can expect to benefit from insurers’ need to minimize administrative costs, Mr. Mukerji says, citing a recent Deloitte Center for Health Solutions study showing that up to 41 percent of the cost of a health plan is administrative.

From usdebtclock.org

National Debt: $12.6 Trillion. $3.9 Trillion held by foreign countries. Over $800 Billion by China alone.

State Debt: $1.1 Trillion.

Municipal Debt: $1.9 Trillion.

Personnel Debt: $16.6 Trillion.

Americans on Food Stamps: 39.06 Million, about 13% of the entire US population.