Posted on 05/08/2009 6:04:38 AM PDT by reaganaut1
The breadth of President Obama's assault on capitalism is breathtaking: from seeking to regulate fine details like credit card fees, to exerting control over major banks, restructuring the auto industry from the Oval Office, seeking to nationalize the entire health care industry, and proposing a national cap on fossil fuel consumption and a thinly disguised system of energy rationing.
But that kind of sweeping control over the economy is not compatible with a system of government designed to protect individual liberty. America's traditional legal system is all about laws and rights and contracts—a fine web of protections for the rights of the individual—and that tends to get in the way of vast schemes for government disposal of our lives and wealth.
So President Obama has decided to throw out that existing legal system and knock down the protections for individual rights.
Our first major warning of this is the deal being forced on Chrysler's "secured creditors." These are institutions that loaned money to Chrysler when it was in trouble; they were willing to take the risk because they were relying on a legal principle which gives them first claim on the company's assets in case of bankruptcy. Thus, in the worst case scenario, they expected to reclaim as much as 80 cents on each dollar of their investment, limiting their losses.
But the Obama administration wants them to accept only 29 cents on the dollar, in the name of "sacrifice." The beneficiary of this sacrifice is the United Auto Workers, a Democratic pressure group which is being shoved to the front of the line and favored above the secured creditors.
How did Obama get these creditors to relinquish their rights? Major banks who have taken TARP money caved in first.
(Excerpt) Read more at jewishworldreview.com ...
continuing his assault on dividing americans against each
and assigning which americans are entitled at the expense of others
those who resist giving it up are selfish losers he can punish
Can you even IMAGINE having a US president who operates like an ACORN activist? (gentlemen, I am the only thing standing between you and the pitchforks...)
A truly great columnist, one who I’ve only read on his own site, TIA, and I am glad someone posted him to FR finally.
The collapse last Fall, where the seeds were sown with Greenspan and Bernake printing tons of money in 2003, republicans took credit for the boom (those tax cuts) and so got blame for inevitable crash. No amound of after the fact spinning would allow republicans to get credit for the boom and pass the blame for the crash at the same time.
You can say that again. What's disgusting is NOBODY is calling him on any of it.
Basically because the big banks and the politicians that they own are benefitting the most from financial lawlessness. While you and I are expected to pay our debts or have the sherriff drop by, they are reneging on debts to the rest of the world, and pawning off bad assets onto the taxpayers. Obama is all for it, as was/is McCain, with the only slight differences in who benefits.
And after all the change, corruption will surely follow.
Who watches Big Brother?
What a moment in history that is unfolding before our eyes. The first black (half black) President is going to leave a legacy of being, far and away, the one who did the most damage to our nation, to the Constitution, to our security, and to our way of life. It is as if his mission is to dismantle the greatest and most just country this planet has ever seen.
Quit being confused, it's not as if, his mission is to dismantle the nation. Now, doesn't it all make sense now?
The press' job is to tell us this is going on, the press instead is lying.
Outline of the BIG LIE;
http://www.youtube.com/watch?v=oBpHSyuueMU
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