The President’s Permanent TARP Bailout Socialism Bill

The Tea Party, with overwhelming agreement from the America people, opposes any further TARP bank bailouts. But just as with the health care bill, Washington’s ruling Democrats are laughing off the Tea Party, and ignoring the American people.

President Obama’s so-called Financial Regulatory Reform bill institutionalizes permanent TARP bailout authority across the entire financial sector, indeed, for any company that can be deemed involved in financial activity of any sort. Washington is operating today as if we have been conquered by a foreign power that has suspended our democracy and doesn’t care what the American people think.

The bill led by Senate Banking Chairman Chris Dodd (D-CT) (not running for reelection), which President Obama supports, grants permanent bailout authority to the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and the Treasury. They are empowered to force into receivership any company they deem in danger of default that is “substantially engaged in activities… that are financial in nature.” The Federal Reserve and the Treasury would enjoy the power to define what constitutes “financial activities.” The Federal Reserve can declare any enterprise “a non-bank financial company” which can be seized and liquidated.

This takes potential bailouts and takeovers well beyond banking, even beyond the financial sector, to almost any business in the country.

Read more at the American Spectator

A Wall Street Bailout Bill

View on YouTube

If you enjoyed this post, make sure you subscribe to my RSS feed!
Share

Leave a Reply

Become A Subscriber!

Enter your email address:

Delivered by FeedBurner

Follow ConservThoughts on Twitter

Support This Blog!

This blog is a labor of love for you, the reader who loves this country and wants to stay informed of the threats to our liberty and how to make a difference. I receive no compensation for blogging and pay for web services out of our family budget. Would you consider making a small donation to help? Just like the fight for liberty, every little bit makes a difference!

Categories
Archives
Note: Please keep your comments respectful and relevant to the topic at hand. I will not approve ad hominem attacks or profanity. Nor will I approve comments by advertisers using their business or product and hyperlink as their username. This blog is not a forum for free advertising.
Free Gift!
FREE Pocket Copy of the Declaration & Constitution!
PJTV
Change A Child’s Life!

Get stickers, T-Shirts and more at the Patriot Depot!

Preparedness Pantry Blog

Copyright Trolls Sue Thoughts From A Conservative Mom

Join The Fight!
You Are Visitor
Powered by web analytics software.
Learn more about us debt.
DiscoverTheNetworks.org
Help A Friend In Need!
A non-profit organization facilitating generosity between people.
Financial Freedom
Get on the road to financial peace with Dave Ramsey's Financial Peace University!

Journey to true financial freedom with Crown Financial Ministries!