Socialist Obama Administration Makes New Power Grab To Seize Private Sector Businesses

I know there are still several libs out there who stamp their feet and whine like little children that Obama is not a socialist. Well, you can put your faux temper tantrums back into the closet for another day. All doubt about Obama's intentions of sending the United States into a socialist disaster similar to that of European nations has been erased.

The White House announced a plan for the government to come in and seize control of private sector businesses. At first, the excuse was that the government should come in and give oversight to any bank or firm that recieved TARP money. Now, they just want to go in and take over any bank, firm or business they feel like.

From the Washington Post:

Treasury Secretary Timothy F. Geithner is set to argue for the new powers at a hearing today on Capitol Hill about the furor over bonuses paid to executives at American International Group, which the government has propped up with about $180 billion in federal aid. Administration officials have said that the proposed authority would have allowed them to seize AIG last fall and wind down its operations at less cost to taxpayers. The administration's proposal contains two pieces. First, it would empower a government agency to take on the new role of systemic risk regulator with broad oversight of any and all financial firms whose failure could disrupt the broader economy. The Federal Reserve is widely considered to be the leading candidate for this assignment. But some critics warn that this could conflict with the Fed's other responsibilities, particularly its control over monetary policy. The government also would assume the authority to seize such firms if they totter toward failure.

There are two major problems with this. First, our government is so incompetant that it is extremely doubtful that they would ever be able to accurately identify a firm that was tottering "towards failure." After all, Sarbanes-Oxley was designed to do just that and it failed to give us notice every single time another Wall Street firm went bankrupt. Apart from that, if the market dictates that is business should fail then the business should fail.

Second, this is nothing more than a socialist power grab, an attempt at seizing the means of wealth and production. Sound like a part of a plan introduced by a radical who lived back in the 1800's and wrote the Communist Manifesto? It should. It is precisely that.

Obama has also mentioned that he wants to put limits on executive compensation in all businesses, whether they recieved TARP money or not.

The Obama Administration has now removed all disguise from their policies. They are most definitely socialists and they are no longer timid about exposing it. Socialism is a disaster and had failed everywhere it has been tried. Certainly, Obama is aware of history.

But I believe that Obama has a more sinister purpose in mind here. He wants his socialist allies in Congress to grant his administration these broad powers to act against the American private sector in order to tighten the devastating stranglehold that socialism will ultimately have on us and our lives.

Is this what Chris Buckley, David Brooks and Doug Kmiec had in mind when they convinced all those people to vote for Obama?

This madness must be stopped.

Wake up America!

You can access the complete article on-line here:

U.S. Seeks Expanded Power To Seize Firms
Binyamin Appelbaum and David Cho
Washington Post
March 24, 2009