Finance Reform = Government Takeover

Accuracy in Academia ^ | May 6, 2010 | James F. Davis

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Finance Reform = Government Takeover

James F. Davis, May 5, 2010

It’s time to take our heads out of the sand about the agenda of President Obama and his insider supporters. Having passed legislation that will give government bureaucrats the power over who gets medical care and who doesn’t, he has now set his sights on taking control over who gets money and who doesn’t—of every person in the USA through the alleged “Financial Reform Bill.”

In effect, if this Trojan horse legislation passes in its present form, the President will have control over every citizen’s savings and every enterprise’s finances. It amounts to the nationalization of our financial and private economy.

It would give control over the economy to the Federal Reserve, the FDIC and the Treasury Secretary, the same regulators who were a large part of the cause of the financial crisis we presently find ourselves. If you Google “James F. Davis, The Cause of the 2008 Financial Crisis” you will find the details on who caused the economic problems we now face.

This bill gives the president’s political appointee, the Treasury Secretary, virtual dictatorial powers without any meaningful judicial review or restraint. It gives him the power to seize any financial institution that he arbitrarily thinks is ‘too big to fail,’ replace the management and wipeout the legal stockholders equity and debt holders, i.e., your pension fund and/or savings!

The President already did this to General Motors’ bond and stockholders. He got the activist courts to disregard the law and essentially gave the company to the unions that were critical in getting him elected.

This “Financial Reform Bill” establishes an innocuously sounding “Consumer Financial Protection Agency.”...

[caww]

Yep! Exactly....big heads up as this is coming....