U.S. Seeks Expanded Power to Seize Firms
The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy,
“Damage the broader economy” is such a vague term. GM’s collapse will “damage the broader economy”. So they will have to expand this to include manufacturers and Walmart. Changing The Won from “socialist” to Communist. Must be the change he was talking about.
Giving the Treasury secretary authority over a broader range of companies would mark a significant shift from the existing model of financial regulation, which relies on independent agencies that are shielded from the political process. The Treasury secretary, a member of the president’s Cabinet, would exercise the new powers in consultation with the White House, the Federal Reserve and other regulators,
I guess that means he’ll be seizing whatever the Windy City Mob tells him to. Now if I believed in conspiracies I’d say that they all take their orders from George Soros.
Hat tip Bashir Gemayel
Submit to Stumbled Upon!
Not much difference from Bush and Paulsen and Bernanke asking for permission to regulate those businesses any way they wanted. This is simply communism instead of socialism.
Bush has shown the way to the Won in more ways than Won.