The Gods of Irony head’s are now exploding.
Update: This comes from a discussion of hiring quotas that were included in the bank bill. Brown and Mika both came down on “White Men” and maintained that if there were more women in charge in Wall Street than the bank meltdown wouldn’t have happened. After all we know that women are not greedy and could never run a company into the ground or lie or steal or cheat.
Are we actually hearing people saying this in the year 2010? I was waiting for them to call for Wall Street to be run by a “Wise Latina”.
Four members of the U.S. Commission on Civil Rights have signed a letter complaining that Section 324 of the conference report titled the “Dodd-Frank Wall Street Reform and Consumer Protection Act” “includes a section on race and gender that even those who pride themselves on keeping up with national affairs may have failed to notice.” This provision, which can be found on page 172 of the conference report, may lead to unconstitutional racial and gender preferences being forced on financial institutions covered by the new law.
The Commissioners further argue that these new bureaucrats will be empowered to shall “’develop standards’ for ‘assessing the diversity policies and practices of entities regulated by the agency’ and ‘develop and implement 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 businesses and activities of the agency.” According to the letter, this new mandate will cover “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.” If these institutions are doing business with the government, newly minted bureaucrats will be allowed to study the racial and gender composition of these covered entities work forces to search for companies with not enough minorities and women in a decision making capacity.
If I’m Scott Brown, and the senators from Maine, I’m feeling pretty foolish right now, and you should be.
Update 2: Newsbusters wasted no time jumping on this. They miss the irony part.