Never let a good crisis go to waste.  King Obama wants to give Prince Geithner authority to seize non-bank financial companies.  Once the government has control of the nation’s entire financial apparatus, Obama’s socialist transformation may be unstoppable.

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.

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.

Let me be perfectly clear about this bill: it must be stopped at all costs.  If such a bill passes, it will mean the end of capitalist(-ish) America.

Obama’s socialist ties were exposed during the campaign, but we were told we just couldn’t call him that.  How dare we call him a socialist; why, that’s hyperbole!  But now we have all the proof we need.

He wants the government to run the entire economy.  That is socialism, and those who seek to advance it must fail. It is the obligation of those who believe in freedom to ensure that they do.

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