Friday, March 28, 2008

Financial Homeland Security: Obama Tries Nationalizing Power Grab, Dodd Tries To Profit from Credit Crisis

“I hope we make money off of this.”--Senator Christopher Dodd (D-CT), Chairman of the Senate Banking Committee, speaking of the Federal Reserve's Bear Stearns bailout (National Public Radio (NPR) interview, 3/26/08)

Faustian Bargain Bailouts from Obama, Bush, and Dodd

Dodd, Obama, and Bush administration Treasury Secretary Henry Paulson all agreed to use the housing/mortgage crash and credit crisis as an excuse to expand government control over the economy:

“If an investment bank is going to start acting like a bank and get backups, then I think it begs the question, obviously, then shouldn’t there be some regulation of that, American taxpayer’s money is on the line, to what extent, how are you conducting your affairs and your business.” (Dodd)

"First, if you can borrow from the government, you should be subject to government oversight and supervision." (Obama)

On the current centralizing regulation orgy in Washington DC: "This is tectonic . . . We no longer want to have a balkanized response to a national crisis." (former SEC General Counsel Ralph Ferrara, Dewey & LeBoeuf LLP)

Financial Homeland Security: Politicians are making another power grab to control your life under the guise of compassion, protection, and "stability."

An Offer You Can't Refuse

Dodd-Bush-Obama's mafia-like "favors" require life-long subjugation worse than any mortgage loanshark. Read the fine print of government "help" to see the strings attached. Government "assistance" often takes advantage of travails to prey on the weak under the guise of compassion.

Obama's national and international centralization of financial control subjects you to more, intrusive, Big Brother "supervision" even if you DO NOT borrow but rather simply because you CAN borrow--and the government might unilaterally declare you able to borrow even if you do not want the credit line.

Obama copied his cousin Bush by claiming only to "update" or "modernize" for the "21st Century."

Dodd laughably tried to claim that government action did not cause the economic problems by saying, “No one can make a case here that this happened because of overregulation," even though Not One Cent provides numerous examples of government regulation causing the current problems.

To summarize, the government tries to run the economy, creates a disaster, blames the disaster on you, claims that the disaster proves that the government wasn't running your life enough, demands that you surrender more rights to qualify for "help," and uses your misery to increase its profit and power over you.

Given that the credit bubble was government policy in the first place, when will Financial Homeland Security's Global War on Savings declare saving to be a terrorist act?

Update 10/15/08: Bailout Mafia force companies to take bailout.

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