SocialObamaism – a NeoCon Banana Republic coming to you

SocialObamaism – a NeoCon's Banana Republic

WASHINGTON - The 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.

http://www.msnbc.msn.com/id/29847658/

Barney Frank announced today that he wanted to limit bonuses given to any Wall Street fatcat regardless of whether he received TARP bail-out money or not:

http://www.house.gov/apps/list/press/financialsvcs_dem/press0324095.shtml

He'll say nearly anything to divert attention to his own responsibility for this mess.

ohio county wrote:Barney Frank announced today that he wanted to limit bonuses given to any Wall Street fatcat regardless of whether he received TARP bail-out money or not:


He'll say nearly anything to divert attention to his own responsibility for this mess.

Very Interesting, so isn't this -

Sen. Christopher Dodd, D-Conn., has an AIG problem -- and just in time for his reelection next year.

Dodd, chairman of the Senate Banking Committee, acknowledged Wednesday that he, as Bloomberg news put it , "weakened a provision dealing with executive pay in last month's stimulus legislation at the request of the Obama administration The provision inserted in the bill instead expressly allowed companies that received taxpayer bailout money to pay retention bonuses that were part of employment contracts signed before Feb. 11, 2009. That would include the AIG bonuses, although Dodd has said he didn't know about the AIG bonuses at the time.

Read more here

I think we should make a list of all the industries the Obama administration is planning to socialize or attempting to socialize.

It isn't just banking and health care any longer....

Why make a list? The fact is Obama intends to turn the United States into a socialistic Paradise. That means all fascets of industry. Hugo Chavez would be proud.

Cato