TheRealMafoo on 07 August 2009
| Rath said: @Mafoo. What bill is this one that you're talking about? Is it regulation (which seems more likely) or the power to nationalise (which you make it sound like)? |
http://money.cnn.com/2009/06/17/news/economy/regulatory_reform/index.htm?postversion=2009061717
In the details of this bill, he has the right to take over a bank, even if they are profitable, if he deems it's needed.
In the Chrysler deal, he wanted the top bank to take 10 cents on the dollar for there debt in an attempt to keep Chrysler out of Bankruptcy. They said no. If this goes through, it will give him the power to no need to ask. He can just tell them they are taking 10 cents on the dollar.
Not something I want my government to have control over.
I don't know how anyone could read that article, and not think Obama is moving towards Socialism.
