In the name of preventing damage to "the broader economy", President Obama and his Treasury Secretary Timothy Geithner are now seeking power to seize a wider array of businesses, and not necessarily banking/finance-related firms either.
I was afraid this would happen.
The regulation pendulum has been swinging wildly between both far ends of the spectrum. During the administration of George W. Bush there was a lot less regulation of such businesses, and that's a big reason why we're in our current economic mess. Now the Obama gang, exploiting public outrage like that about the AIG bonuses, is going to drive us toward too much regulation.
When the American government begins seriously talking about nationalizing businesses, start worrying. One way or another, if Obama and his bunch gets this kind of "authority", it ain't gonna end well.
2 comments:
"It's all part of the plan."
The Joker from The Dark Knight
I was actually going to post something about this later today too. It's way ridiculous that anybody is even considering this a legitimate proposition. What happened to the Constitution??
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