Posted on 04/04/2009 8:48:16 AM PDT by wrrock
This is big. Obama's administration is now seeking to prevent Congressional restrictions on companies receiving bailouts from applying to future companies that receive bailouts, on the grounds that failure to do so will prevent more companies from accepting bailout relief funds.
(Excerpt) Read more at digg.com ...
Where’s the asprin. First, the TOTUS throws billions off the WH balcony. Then he demands the billions are returned. Then he takes control of private companies by firing CEOs. Next he attaches strings to some of the billions while at the same time showing ways to cut the strings.
Folks, these are distractions. Keep an eye on what the magician doesn’t want you to see.
Yet he’ll refuse to allow a state to use funds from the stimulus money to pay down debt.
Obama tells firms that are NOT in trouble, like Wells Fargo, to accept the money as their patriotic duty, then Obama will not take the money back.
Obama and Congress then beat up on all of the firms that accept bail out money, even those who stated, up front, that they did not need it.
Now, companies are reluctant to accept any bail out money, because they do not want Barney Frank and Obama to micromanage their companies.
Now, bankruptcy truly does look like the best option, in many cases.
So? So Obama figures out how to avoid the rules, for firms that take bail out money in the future, but Obama STILL won't let firms that did not want the money to -— GIVE IT BACK???
Right out of the commie playbook. Everything is based on political favors regardless of laws.
Obama’s administration is now seeking to prevent Congressional restrictions on companies receiving bailouts,obamas construction of the debtors prison and it only took sixty days thanks to Nancy,Harry and the democrat congress and senate.
This is the kind of uncertainty that kept the Great Depression going. Businesses never knew from one day to the next whether they would be allowed to do anything. So often, they did as little as possible.
Any company that believes that the government won’t place similar restrictions on any company accepting bail outs is run by fools.
Obama anticipates having to set prices to reduce competition. That’s going to be hard to do without government control.
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