Monday, October 26, 2009

Is This Still The United States of America?!

I was thinking that in light of all that's going on this should be a new reoccurring feature. Generated by news stories we hear/read that honestly (no manufactured rage please) make us wonder if we were whisked to another country... You know the stories I mean --the yell at the television stories, the ones you have trouble writing about because you're too annoyed to maintain a cohesive thought line... Send them to me and I'll post them.

A prime example would be the story that Congress is looking for power to make it easier for them to take over privately owned companies. I am assuming the "to big to fail" proviso is to ease their anti-American consciences.

"...A bill to be introduced in Congress by a key ally of President Barack Obama would make it easier for the US government to seize control of troubled financial institutions that are considered too big to be allowed to fail, The New York Times reported.

Citing a senior administration official, the newspaper said the measure would be proposed this week by Representative Barney Frank, chairman of the House Financial Services Committee, after extensive consultations with Treasury Department officials.

The legislation would make it easier for the government to throw out the financial company's management, wipe out the shareholders and change the terms of existing loans held by the institution, the report said.

Treasury Secretary Timothy Geithner was planning to endorse the changes in testimony before the House Financial Services Committee on Thursday, the paper noted..."(source -emphasis mine)

Is this for real? Now the government has eminent domain over your business too?!

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