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June 12th, 2009

‘This is no joke’

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Congress has been known to introduce lots of interesting legislation, but once in a while comes a bill which — at first glance — might seem rather silly.

One of the sources we follow, Wall Street Source, couldn’t help letting their disbelief come through in today’s Morning Call, a summary in which they aggregate various topics:

USNEWS: Wall Street Source – 06-12 07:31 AM

Since yesterday’s close, Blackrock will acquire Barclays Global Investors for $13bn half cash, half stock. The Senate voted to give regulators power to restrict tobacco products. Menu regulation appears to be next requiring calories to be listed (this is no joke).

(Emphasis added) That Congress can, amidst the greatest recession since whenever, find time to further the goals of the nanny state is neither silly nor surprising. It’s all part and parcel of the upcoming push for nationalized health care: when Uncle Sam pays for your health care, Uncle Sam gets a say in your lifestyle.

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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