Posted on 03/24/2009 2:39:40 PM PDT by keep your powder dry
WASHINGTON -- The U.S. government needs to be able to take over and wind down a broad range of economically important non-bank financial institutions, top economic officials told Congress Tuesday, though who will get that authority was left as an open question.
Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner told House lawmakers the government's experience with American International Group Inc. highlights the need to deal with increasingly complex and systemically important institutions.
(Excerpt) Read more at online.wsj.com ...
Yeah, that’s just what we need. More communism.
This is getting beyond out of hand.
Damn vultures
More here:
http://www.freerepublic.com/focus/f-news/2213563/posts
U.S. Seeks Expanded Power to Seize Firms
http://www.freerepublic.com/focus/f-bloggers/2213692/posts
Geithner, Starring as “Atlas Shrugged” Villain Wesley Mouch?
Now pay attention to Wesley Mouch, economic czar of Atlas Shrugs’ America, and listen to him complain as Rand’s “elite” discuss taking complete control of the nation’s production:
‘It’s obvious that measures have to be taken. Drastic measures,’ said James Taggart, speaking, not to Mr Thompson, but to Wesley Mouch. ‘We can’t let things go the way they’re going much longer.’ His voice was belligerent and shaky.
‘Don’t look at me,’ snapped Wesley Mouch. ‘I can’t help it. I can’t help if people refuse to co-operate. I’m tied. I need wider powers.’
‘Go ahead, Wesley,’ [Thompson] said. ‘Go ahead with Number 10-289. You won’t have any trouble at all.’
‘If you want me to go ahead, you’ll have to declare a state of total emergency.’
‘I’ll declare it any time you are ready.’
‘The chief difficulty is that I am not sure whether the law actually grants us the power to put into effect certain provisions of Directive Number 10-289. I fear they might be open to challenge.’
‘Oh, hell, we’ve passed so many emergency laws that if you hunt through them, you’re sure to dig up something that will cover it.’
why don’t they just pot os all on govt breathing machines
welcome my fellow borg
Exactly what we don’t need....more government power!... WE MUST STOP THESE MANIACS!!!!
Bush locks terrorist in Gitmo and to the National media and the left in America he is Un American and destroying the Constitution..
Obama’s boys are setting up total government control of American financial company’s something TOTALLY un American and Un Constituional and not a word form the National media or the left.
hey, the national media is way to busy covering REAL stories: http://www.msnbc.msn.com/id/29865271/
Unlike the War on terror that does not really effect your daily life (though it has kept you safe for nearly a decade, thanks to the brave souls of our military personnel);
What the 44th president is attempting will...
...and it will not be for the better.
The Federal Government exists to:
Defend the Constitution, nothing more.
The Obama Administration will now....
Change what America is:
http://online.wsj.com/article/SB123564748462081261.html
http://www.americanthinker.com/2009/03/obama_and_the_triumph_of_the_f.html
Choose your education and Career:
http://online.wsj.com/article/SB123668036405881929.html
http://www.stormfront.org/forum/showthread.php?t=564429&page=3
http://www.americanthinker.com/2009/03/us_public_schools_teaching_chi_1.html
Choose your healthcare:
http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_mccaughey&sid=aLzfDxfbwhzs
http://www.christianpost.com/Opinion/Columns/2009/02/is-the-government-planning-to-make-your-health-care-decisions-25/
Mandate involuntary servitude, and punish the willingly charitable:
http://headinthegame.newsvine.com/_news/2008/07/20/1680082-obama-to-force-americas-youth-to-volunteer
http://www.washingtontimes.com/news/2009/feb/27/charity-tax-challenged-by-political-friends/
Pass unconstitutional laws:
http://www.hg.org/article.asp?id=6020
http://www.foxnews.com/politics/first100days/2009/02/09/gop-sounds-alarm-obama-decision-census-white-house/
http://conservativexpress.blogspot.com/2009/02/criminal-truth-behind-acorns-mob-rule.html
Lie about Facts, campaign promises:
http://www.redstate.com/california_yankee/2009/03/04/geithner-lies-on-facts-as-well-as-on-tax-forms/
http://michellemalkin.com/2009/02/23/9000-earmarks-in-the-410-billion-omnibus-spending-bill-gang-tattoo-removal-maine-lobster-la-raza-more/
http://www.republicanoperative.com/forums/left-vs-right/17925-obamas-new-spending-bill-has-9-000-earmarks.html
http://www.huffingtonpost.com/2009/02/09/itimeis-halperin-obama-no_n_165307.html
Expand the government:
http://online.wsj.com/article/SB123569611695588763.html
http://www.huffingtonpost.com/the-progress-report/obamas-stimulus-package_b_155279.html
http://www.wsws.org/articles/2009/feb2009/obam-f25.shtml
Put the nation into an unrecoverable debt:
http://online.wsj.com/article/SB123621161271234665.html
http://www.redstate.com/california_yankee/2009/02/26/obamas-budget-4-trillion-in-spending-a-175-trillion-deficit-and-another-750-billion-bank-bailout/
Give orders to the GOP:
http://www.redstate.com/jeff_emanuel/2009/03/10/why-does-this-obama-voter-keep-telling-the-gop-how-to-do-things/
http://blogs.wsj.com/washwire/2009/01/23/obama-to-gop-i-won/
Own your bank:
http://www.marginalrevolution.com/marginalrevolution/2009/03/an-attack-of-collective-sanity.html
http://www.exposeobama.com/2009/01/19/obama-team-weighs-government-bank/
http://dprogram.net/2009/01/26/obama-wants-to-nationalize-banks/
http://blog.rollinsfinancial.com/2009/02/bank-nationalization-isnt-answer.html
Talk with terrorists:
http://www.cbsnews.com/stories/2009/03/08/eveningnews/main4852716.shtml
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=89597
http://jta.org/news/article/2009/03/06/1003506/britain-to-talk-to-hezbollah
Charter laws against the morality of our nation:
http://www.christianitytoday.com/ct/2008/novemberweb-only/146-45.0.html
http://www.huffingtonpost.com/2009/03/09/obama-stem-cell-research_n_173075.html
Be in power indefinitely:
http://www.opencongress.org/bill/111-hj5/show
http://www.whiskeyandgunpowder.com/marxism-marches-on/
Create yet another body of constituents, reliant on welfare:
http://online.wsj.com/article/SB123569802712289113.html
http://www.technologyreview.com/business/22247/?a=f
Fail to provide Real leadership:
http://www.msnbc.msn.com/id/3036789/#29595206
http://www.msnbc.msn.com/id/3036789/#29595241
And fund it all with YOUR money:
http://www.americanthinker.com/2008/10/senator_obamas_four_tax_increa.html
http://www.cato-at-liberty.org/2008/03/12/obamas-reckless-tax-increase-to-save-social-security/
http://newsbusters.org/blogs/tom-blumer/2008/06/20/obamas-payroll-tax-increase-goes-after-income-not-wealth-media-clueless
http://news.yahoo.com/s/bloomberg/20090226/pl_bloomberg/a4tqh0vpi1k
And to make matters worse, they refuse take a stance to defend the Constitution:
Free Speech:
http://doctorbulldog.wordpress.com/2008/10/13/obamas-truth-squads-censor-free-speech-on-blogtalkradio/
http://donstorch.com/2009/01/24/obamas-power-play-verges-on-threat-censorship-and-free-speech/
http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=82113
Gun Laws:
http://blogs.abcnews.com/politicalradar/2008/02/obama-common-se.html
http://www.washingtonpost.com/wp-dyn/content/article/2008/04/06/AR2008040601652.html
http://www.nbcchicago.com/news/local/Daley-Calls-for-Gun-Laws-Blasts-Feds-for-Lack-of-Focus.html
I am sure that this is not an all-inclusive list, but regardless, when this all comes to pass, You will no longer be free...
The meaning of this idea is:
More companies managers are being told that they can get their operations as economically dysfunctional and politically connected as Freddie and Fannie and walk away when the taxpayers rescue the financial carcass they leave behind.
That's what the political guarantee of “federal rescue” of financial institutions that may "pose systemic risk" means.
first they came for the banks.
then they came for the investment firms.
then they came for the insurance companies.
then they came for.....
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