Obama’s Creeping Fascism: Power To Seize Private Firms
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Call it socialism, nationalism, progressivism, or fascism (the digital brownshirts legislation and organizing for America issues surely make a good case, as well,) but, whatever you call it, it should cause serious concern for those who love what our country is founded on
The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.
The government at present has the authority to seize only banks.
Giving the Treasury secretary authority over a broader range of companies would mark a significant shift from the existing model of financial regulation, which relies on independent agencies that are shielded from the political process. The Treasury secretary, a member of the president’s Cabinet, would exercise the new powers in consultation with the White House, the Federal Reserve and other regulators, according to the document.
Where to start, where to start. Heck, why bother, the story says it all. The federal government, under the rule of an incompetent and inexperienced far left ideologue, who put a pretty much incompetent guy in charge of the Treasury, will have the power to seize private firms, which would then be under the control of a political entity. Sure, it is meant as a means of making sure that teetering institutions do not crash, but, isn’t that really what should happen in a free market system, as set by the Founders? And the Obamateur admin plans to send this legislation to Congress this week.[...]
Not good for America.
