Henry Paulson, Dictator

Freedom News ^ | October 17, 2008 | Tim

[TBP]

When the bank bailout bill was adopted recently, I said that one of the worst features was the virtually dictatorial power that was granted to the Secretary of the Treasury. He gets to make decisions about who will survive and who will fail and other broad discretionary decisions about the economy that cannot be challenged. That's virtual dictatorship over the financial markets.

A few days ago, Paulson sent forms to nine major banks giving the government permission to buy shares in the banks, effectively nationalizing them. The Treasury Department then ordered the banks to accept this deal, even though at least one major bank didn't want to. The goal is to force the banks to make loans that the government wants them to make and to control their activities in other ways. That is exactly what got us into this mess.

Henry Paulson is a dictator and President Bush is going along with the dictatorial actions of his socialist Secretary of the Treasury. Both Senator McCain and Senator Obama voted for the bill, while leaders like Alan Keyes, among others, warned us of the dangers of this socialistic measure.

And since the bill provides that the decisions of the Secretary of the Treasury cannot be challenged, we have a socialized banking system for as long as the Big Government mob decides it wants it that way. Thankfully, according to the New York Times, there are 8,500 smaller financial institutions in this country and most of them are well capitalized.

How long before the government orders them to surrender a share of their profitable enterprises to Uncle Sam?

[Uncle Miltie]

Don Paulson and Capo Bernanke made them an offer they couldn’t refuse.

[TBP]

Fort Marcy Park is still open.

[Technogeeb]

A few days ago, Paulson sent forms to nine major banks giving the government permission to buy shares in the banks

Not quite true. He actually locked their CEOs in a room and refused to let them leave until they signed the "agreement".