Thursday, March 26, 2009

Welcome to Obama's Amerika

In my post-election analysis of what kind of president King Obama, Lord and Savior of Big Media (the BM for short) might be, I postulated that the worst scenario would be for Obama to turn out to be the next Woodrow Wilson. Well, hello Mr. Wilson!

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.
For all of the sniveling of the blathering heads of conservative talk radio about what a communist Obama is, he's shown much more aptitude and appetite for plain, old fashioned Corporatism (a euphemism for good old Mussolini-style Fascism). When the government has the power to seize major segments of the economy based on the Treasury Secretary's perception of the relative financial health of the companies that comprise that segment, you're looking at an economy that isn't the least bit free in a country whose citizens are little more than Serfs.

This is what DoublePlusGoodHopeChange looks like. Buyer's remorse, anyone?