"The most sweeping overhaul of financial rules since the Great Depression also would grant the Federal Reserve broad new powers to oversee large firms, such as insurance companies, that it does not regulate directly. The Fed would have the authority to seize and dismantle these companies if they are in danger of failing." [link]
So Obama is proposing we allow an agency that in reality has no oversight over it whatsoever to be able to seize privately held companies and dismantle them as they see fit? Where is the uproar and the outrage over these tactics of government theft? Does no one care anymore that America is ceasing to be America? Or are there so many people out there that think this is OK so long as they still have their car, their Starbucks, their satellite, and it doesn't directly effect them?
Guess they'll learn soon enough.
Wednesday, June 17, 2009
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Neither the Congress, nor the Fed, which exists illegitimately, were given power to do this from the Constitution.
Does anyone care?
I'm thinkin' no.
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