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How The Dodd-Frank Bill Is Hastening The USA Towards Communism – OpEd

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One of the hallmarks and bedrocks of Communism is that the state owns and controls all forms of property, and that essentially, private property must be abolished. 

So what happens when International Communists encounter a country wherein one of their premier constitutional guarantees is the right to “life, liberty, property” if not the “pursuit of happiness,” as paraphrased from the 5th and 14th Amendments

Well, those international communists would spend billions, if not trillions of dollars, to lobby and place within that country’s government, judges, legislators, and executive branch leaders who would work within their own country’s system and laws, on the books, to legally and equitably remove any and all forms of private property from their citizenry, gradually and slowly so that no one would really notice and therefore rebel, either in the courts, or the elections, or in the congress/senate. 

Well that targeted “country” is the United States of America, and the perfect “crisis” that appeared in 2008, the housing/financial crisis, wholly created when the leftist, socialist, communist mostly permeating within the Democrat party, led by such men as Andrew Cuomo who was then head of the Housing Urban Development (“HUD”), made the obtaining of a mortgage and therefore a home, was so low as to allow any hamburger flipper working minimum wage, with terrible credit history, the ability to buy a million dollar home.

This predictably led to mass mortgage payment failures en masse, and when it counted in the tens of millions of homeowners , became a full fledged financial crisis in 2008 which literally threatened to topple the entire United States of America, had these mortgage banks, not been bailed out to the tune of $750 billion dollars in taxpayer dollars, as they were deemed “too big to be allowed to fail.” 

Enter in the equally draconian, middle of the night, overbearing and over-stretching “Dodd-Frank Bill,” of course written and introduced by 2 leftist socialist Democrats, Senator Chris Dodd of Connecticut and Congressman Barney Frank of Massachusetts, which, while cowering behind all of the rules and agencies such as the Consumer Financial Protection Bureau (“CFPB”) which was designed to police and regulate dishonest and risky banking behavior, (as well as insurance, credit card, and real estate companies), also put the proverbial “kibosh” on the ability of the average American to purchase and buy a home, by severely raising the cash down payment required to obtain a mortgage (who has up to 55% of the entire home cost in cash in their back pocket, and why would you need a mortgage anyway if that’s what’s required, as well as having near perfect credit – nearly impossible). 

This is a huge case of “throwing out the baby with the bath water,” and is fairly typical of American government hysterical reaction to various crises (communist inspired) which usually and often lead to sweeping (usually pre-written) legislation, judicial interpretation, and executive action which brings America and its citizenry closer, and closer to outright Communism and the surveillance state. 

Other examples include, but are not limited to, the Patriot Act in the wake of 9/11, or the National Defense Authorization Act of 2014 allowing the U.S. Government to kill American citizens anywhere in the world, without charges or a trial. 

Now that the leftist Democrats are in power, in both the Legislature and the Executive Branch, let’s see if they can honor their own words, sentiments, and supposed underlying desires to “help low to middle income” Americans by repealing/amending those portions of the Dodd-Frank bill which actively prevent middle class and low income Americans from obtaining a mortgage and buying a home, or let’s see if they prefer to relegate those same Middle and Lower Income Americans to renting instead of owning, in line with the Communist Manifesto, with the only ones still owning property being the ruling class of the Communist system, i.e., the Oligarchs, or the Plutocrats, just like in the former Soviet Union (“USSR”).

Rahul Manchanda

Rahul Manchanda

Rahul D. Manchanda, Esq, was ranked among Top Attorneys in the United States by Newsweek Magazine in 2012 and 2013. Manchanda worked for one of the largest law firms in Manhattan where he focused on asbestos litigation. At the United Nations Commission on International Trade Law (“UNCITRAL”) in Vienna, Austria, Mr. Manchanda was exposed to international trade law, arbitration, alternative dispute resolution, and comparisons of the American common law with European civil law.

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