U.S. Seeks Expanded Power to Seize Firms

Discussion in 'Current Events' started by del, Mar 24, 2009.

  1. del
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    del BANNED

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    The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.

    The government at present has the authority to seize only banks.

    Giving the Treasury secretary authority over a broader range of companies would mark a significant shift from the existing model of financial regulation, which relies on independent agencies that are shielded from the political process. The Treasury secretary, a member of the president's Cabinet, would exercise the new powers in consultation with the White House, the Federal Reserve and other regulators, according to the document.

    The administration plans to send legislation to Capitol Hill this week. Sources cautioned that the details, including the Treasury's role, are still in flux.

    U.S. Seeks Expanded Power to Seize Firms

    Quis custodiet ipsos custodes?
     
  2. del
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    del BANNED

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    The Treasury secretary could act only after consulting with the president and getting a recommendation from two-thirds of the Federal Reserve Board, according to the plan.
     
  3. xsited1
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    xsited1 Agent P

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    Maybe Obama should change his name to Hugo Rafael Chávez Frías Obama.
     
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  4. editec
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    editec Mr. Forgot-it-All

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    Quis custodiet ipsos custodes?

    In a truly democratic republic the PEOPLE do.

    In this nation?

    The WEALTHY do.

    That isn't obvious?
     
  5. WillowTree
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    WillowTree Diamond Member

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    MARXISM MARXISM MARXISM :lol:
     
  6. rayboyusmc
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    rayboyusmc Senior Member

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    Groucho Marx or Harpo?:lol:
     
  7. PubliusInfinitum
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    Now NOW Willow... just because Preisdent Hussein is asking for additional powers which would give him control over the means of production, should in NO WAY be taken as evidence that President Hussein is a MARXIST.

    As you know Marxism is a very complex concept which can't be defined by its essential tenet that "the People" control the means of production...

    I'm sure you also know that the history of Communism proves that Communists are gray people... PLUS they wear shabby looking gray Wool... On top of that EVERYONE knows that Communist are fat bastards with HUGE mustaches and bad hair cuts.

    Anyone paying attention can CLEARLY see that President Hussein always presents himself in LIVING COLOR... he wears fashionable business suits and I dount he could grow a mustach if his life depended upon it.

    This idea that its reasonable to rush to judgment that President Hussein is a Marxist JUST BECAUSE HE ADVOCATES FOR and IMPLEMENTS TO THE EXTENT OF HIS MEANS: POLICY WHICH EXEMPLIFIES THE TENETS OF MARXISM... is just not reasonable.
     
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  8. Ravi
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    Ravi Diamond Member

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    Damn, all this trouble stems from redefining the word "bank" and pretending financial institutions that lend money aren't banks and don't have to follow bank regulations.
     
  9. sealybobo
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    sealybobo Diamond Member

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    I told you Willow. These companies don't make the rules, we do. If their actions are fucking up the system, I want OUR government to go in and snatch em up.

    Don't worry about government abusing this power, because Bush & Cheney are out of office now.

    The sooner you realize that it is the corporations that are the problem, the sooner we will clean up this mess.

    But instead you glow when the Dems fail and you are happy when the GOP pull some shady shit.

    You just need to realize that when the GOP wins, you lose.

    But sitting at home all day playing on the computer, how can you ever lose. Right Willow?
     
  10. sealybobo
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    sealybobo Diamond Member

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    Hey, after 8 years of Bush, I'm not so sure I'm a capitalist anymore.

    This marxism you talk about sounds good. Keep explaining it.

    Grey clothing you say? I look great in grey. :lol:

    You like to talk about Stalin. In 100 years, they'll be talking about Bush the same way.

    Do you ever think about the idiots who back in the day were Marxists? Imagine, you are a modern day retard who backed Bush.

    Remember, communism wasn't always a dirty word. And Capitalism was never a dirty word.

    Now when I hear Capitalism, i think of sub primes, deregulations, unfair trade, predatory lending, breaking unions, sending jobs overseas, hiring illegals, high unemployment, unfair tax breaks, bailouts, bankers owning the system, pork, earmarks, stolen elections.
     

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