Forget about 'Miss American Pie,' Bye-Bye America.
A senior administration official said on Sunday that after extensive consultations with Treasury Department officials, Representative Barney Frank, the chairman of the House Financial Services Committee, would introduce legislation as early as this week. The measure would make it easier for the government to seize control of troubled financial institutions, throw out management, wipe out the shareholders and change the terms of existing loans held by the institution. ... “These changes will impose market discipline on the largest and most interconnected companies,” said Michael S. Barr, assistant Treasury secretary for financial institutions. One of the biggest changes the plan would make, he said, is that instead of being controlled by creditors, the process is controlled by the government.
This was originally posted by Mike over at Once Upon A Time In The Webs. Go visit the guy and give him a slap on the back.
Barney Frank: "We Are Trying On Every Front To Increase The Role Of Government..."
15 comments:
The end is really near.
When half the population is looking for freebies it truly is, the end.
We gave them an inch, with all of the takeovers already. Now they want to take a yard. Free hand for more/greater takeovers. I never thought I would wake up in the USSA.
Admiral, it's sure beginning to feel like a very slippery slope.
Opie, this is certainly much worse that any of the Worst Case Scenarios that were imagined on election day.
Is it to be with a whimper? I sure hope not.
The most amazing thing to me is the non-chalance with which it is reported and accepted. I know it´s been said a million times, but...
...if Bush had tried to pull even a fraction of this, the one small screw in the last hinge that was holding the left´s shred of sanity together would have snapped and they would have rioted their way en masse to the White House with torches and pitchforks to carry him away and dismember him.
But now? It´s all good.
PS Thanks for the link love, NG ;-)
PSS Sorry to be so rude as to comment on my own post and walk away, but I got all riled again. And I´ll be back later.
None of this should surprise us. This is what you get with a Demo President and a Demo Congress. The only thing that is really different this time is that we have a true believer Leftist as President. He is willing to have a horde of Demo lemmings run over the cliff to do this stuff.
This is their last window (until 2010) for a very long time and they know it. Cheer up, people.
Whimper, shat! NJ is close to electing a Republican governor. NY-23 is close to defeating a liberal Republican and Demo. Ride to the sound of the guns, people!!
And by the way ... watch that video of Frank. It's priceless watching Nader challenge him on his lack of liberalism (cuckoo alert) and then Frank just keeps pushing back, arguing that the govt. is getting more control everywhere. Priceless.
I bet they can't wait to seize the falling newspapers.
Just wondering if anyone out there is pondering the end game if this slide gets out of hand. I mean really folks, we are already too far left as a nation. What do you suppose will happen if things get worse? I can't really imagine it will be accepted with a "whimper", do you? So what are you all prepared to do? That may be something that deserves some thought...
We need to keep our heads.
Revolutions are not accomplished by manneristic, mincing, neurotic lickspittles like Barney Frank, or any of the other scrapings that Massachusetts sends to DC...or even the droning screwball in the Oval Office.
You can also discount his gang of witless radicals, who spent their college years wanking to the image of Che Guevara. Moving the world is like pushing on a string, and it's stubborn in its contempt for theory.
It's not that easy to overturn or revolutionize an enormous and complicated pluralistic society like America.
I've been saying all along, they can disturb and fracture the old pillars - as they're trying to do -but the outcome is unpredictable. They're likely to get chaos, and that's what I expect.
Well said, Rhod. The Left is so bad at predicting unintended consequences. It's really their specialty (creating them but not seeing them coming). But when you start with flawed premises, this is what happens over and over. Then, blame nature (God is dead, you know) for gravity.
A huge conservative backlash is underway in the country. You will see signs of it next week. But it will continue. People are waking up. I think this is a bit of the chaos you are talking about Rhod.
In the meantime, as Rhod said, keep your heads. Be courageous and be of good cheer. A little "can-do" spirit might come in handy. In other words, act like Americans.
act like Americans
HERE, HERE!!!
Tres.. I believe you meant to say "I bet they can't wait to seize THEIR falling newspapers."
Woody, say those same words in a Barney Frank voice. It'll sound more authoritative.
Well, I know this group is very well informed, so you all know where the dollar is headed. When that tanks, which in my view is inevitable and probably within 10 years, and we accept a one-world currency as our monetary standard, what will it be backed by? But even before that, as the crisis is in progress, and panic probably worse than that seen during the depression hits the masses, there will be a widespread response. I don't pretend to know what that response might look like, but I doubt it will be pretty.
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