March 26, 2009

Socialism 101

Filed under: Political Rants — admin @ 3:11 am

So our president and his Treasury secretary want to expand Federal powers. They want the ability to step in to large, non-financial businesses, renegotiate their contracts, restructure the organization, and liquidate “toxic” assets.

They want this power, they say, so that companies like AIG who are “too big to fail” won’t take taxpayer dollars and turn around and hand out millions in incentive bonuses.

What they “claim” they want to do is to step in when a company doesn’t pass their “risk assessment”, and perform the aforementioned steps. They have the recommendation for the go-ahead from Federal Reserve chairman Ben Bernanke.

Ummmm … Is there anyone else out there who is concerned about this blatant power grab attempt by the executive branch? There is NO REASON on this earth why they need to have this power. After all, the things they want to do are things that COULD have been accomplished LAST YEAR, if they had kept their mitts out of things and let AIG file for chapter 11. YES, FOLKS, the good people in DC, who declared last year that allowing AIG to file for bankruptcy protection under chapter 11 would cause the entire world financial system to collapse NOW want to perform the same tasks that AIG management could have done WITHOUT sucking up 200 BILLION (with a B) taxpayer dollars.

Yes, under chapter 11, they could have liquidated bad assets, renegotiated contracts, and restructured the organization to streamline its operation. The short term financial pain would have been greater, I’m sure, but we would likely be recovering NOW and not listening to the president try and ram a conversion to a more socialist state down our throats in the name of “rescuing the economy”.

Kinda gives a new (and very frightening) meaning to the phrase “We’re from the government, and we’re here to help.”

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment

You must be logged in to post a comment.

Powered by WordPress