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March 24, 2009

Obama administration seeking expanded power to seize firms (A Marxist administration shows its true colors)

Topics: Political News and commentaries

Via the WaPo:

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, according to an administration document.

The government at present has the authority to seize only banks.

Some, including myself, would call this a major shift toward communism. Once you start kicking this can down the road where does it stop?

As a commenter at Patterico's Pontifications noted:

[...] what about directions or policies taken by companies in other industries which would damage or otherwise effect the economy in a manner contrary to the desire of the mob-swayed and mob-swaying government? Maybe we should sosh, sosh, sosh, nationalize the oil companies? Perhaps we should nationalize telecommunication companies? Perhaps we should nationalize television and radio companies because we have nothing to fear but fear itself, and we wouldn't want any of these companies sowing fear or doubt or criticism which could affect the broader economy.

If the Bush administration had proposed such a thing the media would be all over it calling it Marxist.

As Kathryn Jean Lopez notes at NRO, creeping statism is a big theme in Mark Levin's book, "Liberty and Tyranny," and it's apparently coming out on the right day:

Related:
Liberty And Tyranny: A Conservative Manifesto
The Why of Kabuki
Obama's Creeping Fascism: Power To Seize Private Firms
Gingrich On The Obama Agenda (Must watch video)

Posted by Hyscience at March 24, 2009 7:54 AM

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