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Thread: U.S. Seeks Expanded Power to Seize Firms

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    U.S. Seeks Expanded Power to Seize Firms

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    Goal Is to Limit Risk to Broader Economy
    By Binyamin Appelbaum and David Cho
    Washington Post Staff Writers
    Tuesday, March 24, 2009; A01

    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.
    These lying sacks of ****, promise to consult the FED and the WH, but you know where this is leading. We had to endure liberals calling Bush a fascist Nazi for 8 years, and now they voted themselves in a Stalinist. Everybody that voted for this man needs to have their head examined.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: U.S. Seeks Expanded Power to Seize Firms

    Hmmm, frontpage news and no one cares.....certainly not liberals. They're eating this up.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: U.S. Seeks Expanded Power to Seize Firms

    This is EXACTLY how and why nations loose their freedoms and liberties.
    How is government more qualified to run anything? Is Geitner (3 years of nonpayment of taxes) or Biden (net worth at $100,00-$150,000) or Obama ( Experience in finance=none) more qualified than top CEO's with masters degrees and doctorates in finance? With tha answers here being obvious it had NOTHING to do with our economy rather, it has to do with expanding government rule over ever increasing entities in our culture.
    It's nothing more than X's and O's.

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    Re: U.S. Seeks Expanded Power to Seize Firms

    Unfortunately all these tax cheats are liberal heroes.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: U.S. Seeks Expanded Power to Seize Firms

    Quote Originally Posted by article
    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.

    Jump the gun much?
    "I do not underestimate the ability of fanatical groups of terrorists to kill and destroy, but they do not threaten the life of the nation. Whether we would survive Hitler hung in the balance, but there is no doubt that we shall survive al-Qa'ida." -- Lord Hoffmann

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