Too much bureaucracy
Cry Wolf Quotes
[The government involvement in the economy] is so overwhelming and beyond anything we have ever seen, that we risk moving this country away from a government of the people to a government of the regulators.
[Do we really need] strict regulations or to go in with fines?
We feel that it is not in the public interest to require any and all information respecting the business of any bank be made a public record, and ask that the banks be required to submit information to the Federal Reserve Board only that such information be given confidential status, subject to the discretion of the Federal Reserve Board.
This is an unprecedented threat to American traditions, and is aimed at forcing civil rights compliance in the South by authorizing the cutting off of funds in all financial assistance programs. Procedures in the title are devoid of due process of law. It states too broad a policy without defining ‘discrimination.’ Moreover, it authorizes an alternative court enforcement to bureaucrats who pronounce regulations approved by the President, whereas these matters should be promulgated, if at all, by act of Congress.
