Horrid! Horrid! Horrid! Re: the Bailout
Green Mtn
location: Observing the Progressive madness with considerably less amusement.
listening to: Grandchildren, the best reason for saving the future.
registered: 2004.04.03
posts: 2617
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October 02, 2008Horrid! Horrid! Horrid!
Posted by Michael S. Rozeff at October 2, 2008 02:39 PM
The bailout bill means total financial dictatorship. This bill gives the death penalty to capital
markets. The execution will, if this passes, begin immediately and be stretched out over succeeding
years.It includes such nooses as:1. The Secretary of the Treasury (Finance Czar) gets complete power to buy up any mortgage-
related assets he decides on. No questions asked.2. The Finance Czar (Secretary) and the Fed Chairman get power to buy ANY FINANCIAL ASSET
(wow!). They need only inform Congress in writing what they are up to.3. The Czar can buy troubled assets of ANY financial institution he decides on.The power grab here is not one but several quantum leaps beyond even the New Deal. It is at a
minimum in that Big League.The discrimination inherent in this bill is totally inconsistent with any kind of even-handed rule of
law.The precedent set here, if this bill passes, is extremely damaging. In the future, Congress will be far
more likely to grant such powers to financial czars who will then have direct control over all the
capital markets, money markets, and loan markets, and over all financial intermediaries.It is the original Paulson plan raised to the tenth power.http://www.lewrockwell.com/blog/lewrw/archives/023300.html
–--
“Restriction of free thought and free speech is the most dangerous of all subversions.” Wm O. Douglas
“Restriction of free thought and free speech is the most dangerous of all subversions.” Wm O. Douglas
G
Green Mtn
(view)
October 02, 2008Horrid! Horrid! Horrid!
Posted by Michael S. Rozeff at October 2, 2008 02:39 PM
The bailout bill means total financial dictatorship. This bill gives the death penalty to capital
markets. The execution will, if this passes, begin immediately and be stretched out over succeeding
years.It includes such nooses as:1. The Secretary of the Treasury (Finance Czar) gets complete power to buy up any mortgage-
related assets he decides on. No questions asked.2. The Finance Czar (Secretary) and the Fed Chairman get power to buy ANY FINANCIAL ASSET
(wow!). They need only inform Congress in writing what they are up to.3. The Czar can buy troubled assets of ANY financial institution he decides on.The power grab here is not one but several quantum leaps beyond even the New Deal. It is at a
minimum in that Big League.The discrimination inherent in this bill is totally inconsistent with any kind of even-handed rule of
law.The precedent set here, if this bill passes, is extremely damaging. In the future, Congress will be far
more likely to grant such powers to financial czars who will then have direct control over all the
capital markets, money markets, and loan markets, and over all financial intermediaries.It is the original Paulson plan raised to the tenth power.http://www.lewrockwell.com/blog/lewrw/archives/023300.html
–--
“Restriction of free thought and free speech is the most dangerous of all subversions.” Wm O. Douglas
“Restriction of free thought and free speech is the most dangerous of all subversions.” Wm O. Douglas
