Tuesday, March 24, 2009

U.S. Seeks Expanded Power to Seize Firms

he 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.
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, according to the document.

Lets see...
The government is signaling out individuals it doesn't like to tax them more...
They are trying to gain the power to take over whatever fund makes them mad...
What does this sound like...
Give me a minute, it will come to me...

5 comments:

HumbleHumanity said...

IMPEACH! IMPEACH!

They are trashing the Constitution.

The Game said...

na, maybe the voters will wake up and take away all their power in 2 years.

HumbleHumanity said...

I was joking. I was just reliving their glory days when Bush was "trashing the Constitution". I heard that he was listening in on their phone calls. You know, we wanted to steal their secret family recipes.

Ron said...

And that power is still in place to follow YOUR phone calls, finacial records, emails etal.

Better keep it straight cuz the socialists will be coming after you as the enemy next you socialist hater....or we could just get rid of all that crap. I'm for the latter.

WisdomFromTorah said...

"In desperation they turned to a man they didn't fully understand." Batman the Darknight.

People wanted change and they are so stupid I doubt they will notice till it's to late. Like a frog put in a pot with cold water. You can then turn on the heat and cook the frog and it won't even know it.

Give me a break people don't know what he's doing to the extent he is doing it. They still think he cares about the USA first. He doesn't!

I never thought I'd live to see a president unravel this country.