Skip to comments.Finance Reform = Government Takeover
Posted on 05/05/2010 9:37:25 AM PDT by bs9021
Finance Reform = Government Takeover James F. Davis, May 5, 2010
Its 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 doesnt, he has now set his sights on taking control over who gets money and who doesntof 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 citizens savings and every enterprises 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 presidents 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 ...
Yep! Exactly....big heads up as this is coming....
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