Posted on 04/23/2009 1:50:08 PM PDT by Reagan 2.0
Add one more reason to the long list telling us that Chris Simcox needs our support in his primary run at Senator McCain. Undercutting conservatives in his party is McCain's middle name even, apparently, when socialism results.
But to avoid the issue of a potential for government control of the banks, everybody agreed that the stock the feds would take back in return for their money would be preferred stock, not common stock. “Preferred” means that these stockholders get the first crack at dividends, but only common stockholders can actually vote on company management or policy. Now, by changing this fundamental element of the TARP plan, Obama will give Washington a voting majority among the common stockholders of these banks and other financial institutions. The almost 500 companies receiving TARP money will be, in effect, run by Washington.
And whoever controls the banks controls the credit and, therefore, the economy. That’s called socialism.
It's also an awful idea. When the government is able to dispense loans to those whose opinions it values, and reject loans to people whose opinion it doesn't or for uses it doesn't like, we suddenly find ourselves in a new country that would be unrecognizable to our founders...
(Excerpt) Read more at examiner.com ...
The plan was brilliant!
‘Central planning’ would only work in a police state, however.
do it. Government runs everything but the military with the opposite of the Midas touch. Everything that government touches turns to sheet. People will put their dough in coffee cans under the bed before they deposit in government banks to let the government misuse it.
Once these things happen, they are awfully tough to turn around.
Even the military is full of wasteful spending, fat contracts to the politically connected, layers upon layers of wasteful bureacracy...the government does little well.
The only thing the government is capable of doing well are highly specified tasks...like going to the moon.
So we are going to transfer control of our banks to an organization that is trillions in debt ? My guess is they will be siphoning all the bank proceeds.
Except then the government will just print more money and add expiration dates to currency (like the Zimbabaians did) to keep people from hording currency.
I never cared for John McCain. I wrote a lot of articles, but never once “praised” McCain. I realized that the other guy was on a par with Beelzebub, is basically what happened.
Other than his call for the surge strategy, the only time I got happy with McCain was when he picked Sarah Palin. But practically from the moment he picked her, he let her twist in the wind.
When the guy who picked Palin for VP and then deliberately omitted her name from his list of future GOP leaders, I pretty much concluded, “Well, f#$& you too.”
I broke a promise to myself NEVER to vote for John McCain - and I wish I hadn’t. He has undercut solid Republican opposition more times than I can count. And then the man refused to use the issues that would have secured victory (Jeremiah Wright being the biggest one), such that a vote for McCain turned out to be as much a “wasted vote” as a vote for Ron Paul would have been (in the sense of never having a chance to win).
Next time I’ll vote for the best candidate rather than the least worst candidate whom I think has a faint chance to win.
This stuff with Obama refusing to allow banks - many of whom were forced to take bailout money to begin with [with the reason at the time to conceal the truly sick banks] is clearly nothing short of a naked power grab.
Worked for Mussolini.
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