Obama Administration Wants the Power to Seize Firms

March 24, 2009
By 5 comments

 

tyranny

noun
1. a form of government in which the ruler is an absolute dictator (not restricted by a constitution or laws or opposition etc.)
2. dominance through threat of punishment and violence [syn: absolutism]

 Can somebody please explain to me how what’s happening in Washington DC is not tyranny? The Obama administration is asking Congress for the authority to seize any company they deem hazardous to the economy. Is this really happening in the United States of America?

Treasury Sec. Timothy Geithner asked Congress Tuesday to give the White House unprecedented powers to seize large insurers, investment firms and hedge funds, leaping beyond its present authority to seize only banks.

Geithner argued for such authority during the House Financial Services Committee’s hearing on the handling of bonuses paid to executives at American International Group.

“As we have seen with AIG, distress at large, interconnected, non-depository financial institutions can pose systematic risks just as distress at banks can. The administration proposes legislation to give the U.S. government the same basic set of tools for addressing financial distress at non-banks as it has in the bank context,” Geithner told the committee.

“The proposed resolution authority would allow the government to provide financial assistance to make loans to an institution, purchase its obligations or assets, assume or guarantee its liabilities and purchase an equity interest,” he said.

Even if this weren’t unconstitutional, does anyone believe the government can run these firms better than the private sector? It was the government’s involvement in the cheap mortgage business that got us into this mess, and now they think we’re supposed to trust them to get us out of it! You’ve got to be kidding!

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5 Responses to Obama Administration Wants the Power to Seize Firms

  1. Daneen on March 24, 2009 at 2:22 pm

    Beware, my comment is going to be a downer. Geitner is talking about nationalizing private businesses because the government “needs” them.

    I spent the last 15 years living with a grandmother unprepared to live in the world as it has become; she was just from a different time and place, with different values, and didn’t understand how much (horribly) things have changed; in addition to a grief she couldn’t take when my grandfather died, she was just really vulnerable. So I moved in, supplemented her income, made sure she was safe, and tried to be her friend. The last three years were spent with Alzheimer’s. I sacrificed. I gave up everything–literally. A chance for a husband, kids, a social life, more money, a job I loved, the ability to shave my legs whenever I wanted to. I did what I had to do to make her safe and loved. I did that not because I HAD to, but because I loved her and it was the right thing to do. An Obama-like hospital administration decided that she was not valuable enough to fight for and let her die on March 1st. She was 89 with Alzheimer’s, why bother to treat the pneumonia, etc. She was completely disposable to them, and my wish to have her die at home with me there was also fluffed off. She was just a confused old woman.

    And this is just a taste of what the new administration will have in store for us with “universal healthcare”. This is what these people are, and what they will think you are worth when you are no longer needed in any way.

    My point, in tying it to this post, is that things we could not have imagined 90 days ago will absolutely come true. It’s blatant, it’s moving like a freight train, and we are NOT paranoid ultra right wingers for screaming into the wilderness. The idea that a politician, in this country, could suggest seizing any privately owned business is inconceivable. The nation’s apathy is going to reduce us to something we have never been, could never have imagined we would be. In my case, at least, I no longer have to worry about how I’m going to protect and provide for the most vulnerable member of my family. I’m free now to worry only about myself, and prepare for everything that’s coming. I would urge you all to prepare to take care of yourselves, in the most basic ways, in the certain event that your government is no longer ‘of and by the people’. It will instead become your enemy.

    You thought you’d never live to see this in America, right? Me, too. But we’d better learn how to prepare for and live with “inconceivable”.

    Sorry. HAVE A NICE DAY!

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  2. Tyranny on March 24, 2009 at 2:55 pm

    [...] Random Feed wrote an interesting post today onHere’s a quick excerpttyranny noun 1. a form of government in which the ruler is an absolute dictator (not restricted by a constitution or laws or opposition etc.) 2. dominance through threat of punishment and violence [syn: absolutism] Can somebody please explain to me how what’s happening in Washington DC is not tyranny? The Obama administration is asking Congress for the authority to seize any company they deem hazardous to the economy. Is this really happening in the United States of America? Treasu [...]

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  3. Val Batts on March 24, 2009 at 3:36 pm

    Daneen my hat is off to you! I too had to move back home to take care of my Father for a few years before he passed on and while it is difficult to put your life on hold, I figured it was the least that I could do after all of the things that was sacrificed and done for me.

    “Lightning Rod Geitner” just doesn’t learn from his mistakes! The government doesn’t have a right to seize anything from individual or company as long as their business practices are legal. I never knew that losing all of your money on an investment or running a business was a crime. Even then, the government has to convict you of the crime before asking the court to seize your property. I am definitely beginning to see the “CHANGE”

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  4. [...] Random Feed wrote an interesting post today onHere’s a quick excerpttyranny noun 1. a form of government in which the ruler is an absolute dictator (not restricted by a constitution or laws or opposition etc.) 2. dominance through threat of punishment and violence [syn: absolutism] Can somebody please explain to me how what’s happening in Washington DC is not tyranny? The Obama administration is asking Congress for the authority to seize any company they deem hazardous to the economy. Is this really happening in the United States of America [...]

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  5. Angrywhiteman on March 24, 2009 at 9:16 pm

    Acts 2:18

    18 And on my servants and on my handmaidens I will pour out in those days of my Spirit; and they shall prophesy:
    KJV

    …”It’s blatant, it’s moving like a freight train, and we are NOT paranoid ultra right wingers for screaming into the wilderness.”…

    Prophecy has seldom been welcomed by the majority, they have minimized it and ridiculed it since the beginning.

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