Obama administration wants more power to sieze and close companies
...this should scare everyone
Don't look now, but the Obama administration is (still) looking to use the economic "crisis" to further expand the domain of the federal government over the (formerly) private economy. To be specific, they're looking to give the government the right to take over non-bank financial institutions, such as insurance companies, investment firms and hedge funds.
Regarding this latest idea from the gang that doesn't seem to be able to shoot straight, the WaPo puts it this way:
Giving the Treasury secretary the power to seize 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.
That last sentence is very, VERY important.
If you don't think that having a political/partisan organ of government with this sort of power is a bad idea, then I want to play poker with you.
Just imagine the kind of political leverage this gives a PARTISAN entity over America's businesses.
And who doesn't think that it's "financial" companies today, and other "too big to fail" companies tomorrow??
Take Action: Click here and let your members of Congress know how you feel about government takeovers of the private sector.