Main Street vs. Wall Street

News reports last week suggested that 130 companies that cater to main street concerns — like Harley Davidson — had hired lobbyists because of the impact the financial reform legislation will have on their business. The regulatory boondoggle will affect almost every entity that caters to middle class America — from car dealers to dentists. That’s right dentists.

News from Washington is that the group representing America’s dentists are now in freakout mode over the bill. Most dentists offer payment plans. If Johnny need braces, dentists offer payment plans that help the middle class afford them. If the financial reform bill is enacted into law, the federal government would regulate the plans.

This is a prime example of how the legislation — while proporting to regulate Wall Street will actually regulate Main Street.

Yet Citi and Goldman Sachs are supporting the legislation supposedly aimed at them. If Wall Street wants this bill and Main Street is harmed by the bill, how exactly is this Wall Street reform?

It’s not. Its a snow job.

Note: Video from the fine folks at Ensuring Liberty.