Banks Must Raise More Capital For Lower Profits

The Senate passed its "financial reform bill," which among several idiotic items, requires banks to raise more capital while restricting rates and profits.

Not a good combination for capital investment or overall job growth. And of course "consumer protections" will simply result in a dearth of credit for those who need it most.

More Obamanomics at work.

*Update*
Unfortunately, Scott Brown flipped his vote to get it passed. He ran as a conservative and was elected - and now he's voting with Democrats. The Dems won't need a good candidate to defeat him in 2012 - he's gonna destroy his own chances by showing everyone there isn't much difference between him and his opponent.