Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Finance Reform = Government Takeover
Accuracy in Academia ^ | May 6, 2010 | James F. Davis

Posted on 05/05/2010 9:37:25 AM PDT by bs9021

Finance Reform = Government Takeover

James F. Davis, May 5, 2010

It’s time to take our heads out of the sand about the agenda of President Obama and his insider supporters. Having passed legislation that will give government bureaucrats the power over who gets medical care and who doesn’t, he has now set his sights on taking control over who gets money and who doesn’t—of every person in the USA through the alleged “Financial Reform Bill.”

In effect, if this Trojan horse legislation passes in its present form, the President will have control over every citizen’s savings and every enterprise’s finances. It amounts to the nationalization of our financial and private economy.

It would give control over the economy to the Federal Reserve, the FDIC and the Treasury Secretary, the same regulators who were a large part of the cause of the financial crisis we presently find ourselves. If you Google “James F. Davis, The Cause of the 2008 Financial Crisis” you will find the details on who caused the economic problems we now face.

This bill gives the president’s political appointee, the Treasury Secretary, virtual dictatorial powers without any meaningful judicial review or restraint. It gives him the power to seize any financial institution that he arbitrarily thinks is ‘too big to fail,’ replace the management and wipeout the legal stockholders equity and debt holders, i.e., your pension fund and/or savings!

The President already did this to General Motors’ bond and stockholders. He got the activist courts to disregard the law and essentially gave the company to the unions that were critical in getting him elected.

This “Financial Reform Bill” establishes an innocuously sounding “Consumer Financial Protection Agency.”...

(Excerpt) Read more at academia.org ...


TOPICS: Business/Economy; Government; Politics; Society
KEYWORDS: 111th; financereform; financereg; obama

1 posted on 05/05/2010 9:37:25 AM PDT by bs9021
[ Post Reply | Private Reply | View Replies]

To: bs9021

Yep! Exactly....big heads up as this is coming....


2 posted on 05/05/2010 9:39:23 AM PDT by caww
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson