Financial Regulatory Bill Includes Race and Gender Quotas

How surprising — buried in the bloated Barney Frank/Chris Dodd/B. Hussein Obama financial regulatory power grab are penalties for being male and Caucasian:

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.”

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.”

There’s only one way to be sure to mollify the politically correct petty tyrants sent forth from the District of Criminals like an army of flying monkeys: quotas.

Diana Furchtgott-Roth, former chief economist at the U.S. Department of Labor and senior fellow at the Hudson Institute, spotlighted the controversial section in an article at Real Clear Markets on June 8th. She 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.”

We picked a president based on race. How is that turning out? Liberals won’t rest until every bank in the country is run like the White House.

Obviously hiring people because they aren’t white males discriminates against white males. Having this imposed by the federal government is a blatant violation of one of the most basic principles of modern civilization: equal protection under the law. But apparently this concept doesn’t apply to white men, who — with a shrinking number of ever more contemptible exceptions — don’t vote for Democrats.

On tips from Wingmann, Oiao, and Anonymous Countermoonbat. Cross-posted at Moonbattery.

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