Obama Finance Bill Will Allow Seizure of Companies
President Barack Obama has taken the United States one more giant step towards socialism by ramming through the Senate his financial regulation bill.
The bill authorizes the secretary of the Treasury — a political appointee — to seize any financial company (bank or nonbank) simply because, in his opinion, it is too big to fail and in danger of insolvency.
This power can be used for political retribution, pressure for campaign funding, or any other abuse bureaucratic whim or partisan politics can conceive. It is a power Fidel Castro or Hugo Chavez would love to have!
The legislation also requires that any business that extends credit, in any form, to clear the loan instrument in advance with the new consumer protection agency. The backlog of pending applications will strangle consumer credit.
Harold
Is Obama A Defacto President?
Obama like Hitler, to centralize power in U.S. Government has relentlessly pursued getting passed legislation that can be used by federal government to intimidate and threaten businesses and corporations. Hitler got similar laws passed to strong-arm and arrest corporation owners and executives who opposed his Nazi Government. In 1933 Hitler used his new laws to coerce corporations to support passage of Fascist Legislation to suspend parts of the German Constitution, crushing liberties of German Citizens. Afterward Hitler told Parliament, “If you have any legislation, bring it by, I will decide if it should become law.” Hitler successfully dissolved Parliament.
Obama is now approaching a position where he can use similar new laws, including the Patriot Act and 200 asset forfeiture laws to threaten, extort and eliminate any U.S. Corporation or individual that would dare oppose his agenda.
This President has blatantly discarded the U.S. Constitution and is numb to the Majority Will of the American People. Americans that believe Obama is not representative of America or the interests of its Citizens, should display “upside down-American Flags” at protests to show their “distress” until voters purge Obama and his ilk from government office.