To solve the problem of government interference in our loan markets (the sub prime loans forced on privately owned banks) the United States government has started to Nationalize our privately owned Banks.
I read that this bank Nationalization is supposed to be a shot in the arm. But at what cost? And what does the shot cure??
The government nationalizing our banks is a catastrophe. The phrase "shot in the arm" sounds real good, it sounds like it is supposed to cure us, but our banks are being Nationalized. Nationalization of America's business and economy wont cure anything.
It will make things worse.
More government interference in the market is supposed to solve government interference in the market problems??
We are going to reward government interference with giving the government more power to interfere?
National Review's most recent copy (11.14.08) has an article called "Death by Rescue" (I got it in the snail mail not online) and it says that first the government started dealing with this financial problem wrong, by using their power to take over private property (which is bad in National Review's opinion). The article goes on to say that now the government has changed course and the government is buying into banks, and they think that is a good thing.
Yes, I agree that the government taking property is bad, but I also think the government taking ownership of any business, including banks, is bad too. That is Socialism. That is bad, no matter what the excuse is!
The United States Government should not be taking over anything to solve a problem, especially when it is the failed policies of the government that caused the problem in the first place! These are failed government policies that have not been corrected. The government made the catastrophe they are trying to solve. They are not solving the problem by fixing how it was created! Or fixing the damage they caused. They are exploiting the problem by taking more control over private business, which is making the problem infinitely worse for all of us!
Why grant the government more power and control when they are not using the power and control they have honorably?
If this whole crisis is all really about a need for a shot in the arm, a cash flow issue, why didn't the Fed just offer loans that the banks and companies could take at their own choosing?? Why did nationalization have to be taken?? Why, at first, did the government go through company after company and force whole companies to be wiped out, taken over, and sold off, instead of allowing them loans too? The American government forced companies to be taken over by bigger fish. For Bear Stearns, stock value 30$ Friday night, forced by the government to sell over the weekend at $2.00 (Data found in National review article, Death by Rescue 11.14.08). No loan offer, no save, just destroy the companies? What a huge blow to those owners and stock holders! But what a gift to the buyer! Government discounting?
Why are some companies crushed and some companies bailed out?
Why, when the government caused the problem, should we think the government will be fair and wise when they decide what companies get crushed and what companies get bailed out to solve the problem?
How hypocritical for the government to decide any company should be crushed when the government caused the problem!
That is an abuse of power.
The other day Treasury Secty Paulson announced this Nationalization of banks will continue beyond the initial 9 banks.
History tells us the credit problem was caused by our government. Jimmy Carter signed the law that started it all. Left wing organizations, including ACORN forced these loans on banks with lawsuits. (By the way, President elect Obama donated $800,000 to Acorn this election, and Worked with Acorn and was a lawyer for Acorn.) The democrats defended this loan policy over and over even though it was pointed out over and over how dangerous the policies are. Here is a video of when the left defended the loan policy when it was questioned in 2004. Here is another video describing the evolution of the problem and mapping out how it was covered up and defended by the left . The government didn't stop this policy, they didn't fix it, and they haven't repealed the law that caused it yet. But now the banks have to be bought out to solve the problem???
They said this is supposed to be temporary. Can we really believe the government will release their stake in the banks after the "crisis" is over?
When they are taking ownership in banks for all the wrong reasons?
Why do I think this way? Again, the government caused the problem. They didn't stop it when they could. To me, that makes it look like it is all intentional. What makes it look even more intentional?
Look at World reaction to this problem, that goes right along with the socialist solutions getting pushed in our government! Iran was saying Capitalism is dead because of this. Others in the world are calling for a New World Order because of this . Ever since this problem started we keep hearing the drumbeat that these problems should be solved with a World solution. A global solution. So many meetings of World leaders since the whole thing came up. As a matter of fact, Countries outside the US have been meeting recently so they can find a way "to repair the financial system as a way to bolster the global economy."
Yahoo is reporting: World Financial System overhaul added to Obama's to-do list
So now the solution to our government interfering in our markets should be global? Global what?? Global financial systems? Global governance?
Unconstitutional. Right? You Betcha!
Another mission accomplished for the socialist/communist crowd if they get away with all of this. In my opinion.
Where is the line drawn with solving this "crisis"? First it was property taking and business destruction by the government, then it is forced bank takeovers. Do we want some global government in charge of us to solve the problem too?
NO! We want none of it!
Global government?? Insanity! Where would that global government's reach end?? Most of the World has a pathetic economy, yet they want us to just release control of our prosperous capitalist economy over to the World? To solve a problem?? As we discussed, so many in the World say capitalism is the cause of all ills. They say capitalism is the problem! They point to capitalism while they deny that their pathetic systems should take full credit for their mess. How can we expect the New World Order government to solve any problems if they think this way about capitalism?? I see danger in the relinquishing of our sovereignty to anyone. I can see it leading to a control over everything in the economy, such as income, taxes and property ownership for starts. (I don't know if you know, but the UN World Body believes we shouldn't own property.)
The government nationalizing banks is not harmless. I believe it is sinister. It is dangerous. The government who blew up the economy with loan policy is going to save us by taking over part of our banks?? They are selling it as a "shot in the arm." But I believe this is a time bomb set to go off in the middle of the freedom and prosperity of this nation. A bomb that may be set to propel us to live under a global decision making financial authority. For starters.
Which, is a catastrophe.
America and her freedom and her sovereignty has never been so threatened. By people outside AND inside our government! I don't trust the government to do the right thing anymore. Everything our founders and our fathers fought for will be thrown away by these power hungry "globalists."
I can't help but believe this crisis has been created so it could be "solved" this way. It fits the socialist template. I have a nagging feeling, to the point of certainty, that none of this is happening on accident.
Sounds hard to believe to you?? I hope not.
A good parallel to this whole idea of the government causing a problem, so they can solve the problem with socialism, is the healthcare system of the USA. Our federal government has a policy of open borders. So millions and millions of illegal aliens come in to the USA whenever they want and use our healthcare system free, driving up costs for all USA citizens exponentially.
The government's solution is not stopping open borders or illegal immigration, their solution is socializing healthcare.
The government solution to the high costs of healthcare they are causing, is to keep importing poverty, and socializing healthcare! (Socializing healthcare would mean taking over a huge part of the insurance industry and the healthcare industry of our Nation.)
So right there is the template on how our government works here now. They cause the problem so they can solve it with socialism. They cause the problem, and they don't solve the problem by stopping their bad policy, they solve the problem with socialism. They want to do it with healthcare, it is hard to believe they are not doing the exact same thing with our financial system.
No matter how benevolent they claim they are.
Fox Throws Judge Napolitano under the Bus
23 hours ago