Posted on 05/06/2009 5:29:16 AM PDT by reaganaut1
President Obama's vision of the future is, apparently, an economy guided, steered and — when the occasion demands — commanded by the federal government. Some of the companies will remain private. Washington will take others over. But all will look to the White House, as to an orchestra conductor, for signals as to how and when and where to proceed.
This summary is the vision that emerges from the Chrysler bailout.
Whether or not one believes the claims of attorney Thomas Lauria (I do) that the investment bank Perella Weinberg Partners was strong-armed by the administration, the fact remains that the four firms that accepted the piddling offer of 29 cents on the dollar are all awash in TARP money.
Citigroup, Morgan Stanley, Goldman Sachs and JPMorgan Chase all dutifully approved the offer from Washington, while reportedly Perella Weinberg held out for 50 cents. Did the combined $90 billion the four compliant firms owed Washington in TARP funds make a difference in their passive acquiescence? You bet it did.
...
[T]his little vignette shows exactly what the new rules of the game will be under this administration. It won't be Soviet style socialism or Reaganesque capitalism. The system will more resemble the Japanese arrangement where MITI, the Ministry of Trade and Industry, informally guided companies and told them what to do. In Japan, a nod usually suffices to command. In the United States, one has to use a hammer. But the result will be the same: compliant capitalism.
Companies will not look out for their shareholders or their employees or even their customers so much as watch the smoke signals from Washington to decide what to do. The markets won't control decisions. Washington will.
(Excerpt) Read more at jewishworldreview.com ...
What he describes is FASCISM.
Yes, those companies not nationalized will be careful to not do anything contrary to gov’t “wishes” lest they be nationalized, too.
Communism. Brought to America via left wing fascism.
There WILL be (and already is) a buyers remorse.
The higher they climb, the farther they fall. The fiery pit being prepared for the left wing is going to be really, really hot, and really, really deep.
You mean he’s actually got principles, a plan and a strategy?
What’s been going on looks more to me like chaos with a socialist flare. Good thing he isn’t capable of strategic execution or he’d be able to do far more damage.
Lord help us ...
I wonder if the SEC will be keeping an eye on Opie’s friends for “insider trading”?
Our banks are now under Sharia law.
Insider trading is legal as long as you’re a member of Congress. I’d imagine the office of the President will be deemed immune from prosecution along the same statutes.
ping for later
All companies eventually will come under the Citigroup, Morgan Stanley, Goldman Sachs and JPMorgan Chase umbrella. They will have to borrow money for their businesses and as such will be required to abide by new guidelines handed down from the administration.
They will not have much of a choice. The first step by was to remove players who would not comply. The next step as we are seeing now is consolidate power. Following that, Obama will go after American companies doing business overseas. Their losses from the increased tax burden will force them to borrow as will happen to smaller businesses.
Finally, with a filibuster proof majority, the administration wil write the new laws.
Welcome to 1933 Germany.
Hello! They already have. They're instituting Sharia law..............
"The first step by was to remove players who would not comply. The next step as we are seeing now is consolidate power"
The American people are not interested in HOW it works — they are waiting for their programs and their checks in the mail.
Yep. They vote for themselves other peoples wages.
Aside from the $250 to retirees and the usual EITC/tax *refunds* and the taxable *prebate* of FICA taxes, does anyone know just what, if anything, the zerObots have gotten to date? I have heard of a $50/month increase in state welfare checks (or it could have been food stamps increase, I’m unsure) and a $100 increase in unemployment insurance payouts, and a slight increase in Medicaid payouts to hospitals, but that is all. Since I don’t live in an urban area, I wonder if there have been other *distributions*.
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