Monday, April 6, 2009

Obama Won't Let Banks Return Money?

Huh? I thought that the TARP money to banks was to help them out in the short term. The WSJ is reporting today, in an article titled Obama Wants to Control the Banks, that the Obama admin is not letting certain banks return or repay TARP funds. Once banks and other financial institutions were stable and able to the money was supposed to be paid back. Well now it comes out that the Obama administration is not letting certain banks return the money. This proves what I have been saying all along. It isn't about the economy. It isn't about helping or saving any bank, company, or other institution. It is about power and control plain and simple.

Now we have this Pay for Performance Act which was just passed by the House, most likely will be by the senate, and most assuredly signed by the power grabbing President. This Pay for Performance Act, if signed into law, would allow the administration to determine pay for anyone from the lowest guy pushing a broom to execs. They would have this power to set pay in any company that takes a nickel of TARP money. This administration has seized control of many financial institutions and now even of some of the largest industrial giants in GM and Chrysler. Now with the introduction of the Pay for Performance Act they will be able to set wages at these companies. This is government control of companies. With this administration hell bent on "reforming" the health care industry by taking it over will complete their trifecta. Government control of finance, industry, and health care sounds a heck of a lot like socialism to me. Just wait...I'm sure they will make it down to even telling us what we can and cannot blog. Don't scoff we all know they desperately want the Fairness Doctrine back and if they can find a way to stifle free speech over the air they will surely try it in the blogosphere as well. Call me paranoid, but don't they do this in COMMUNIST CHINA!

later all and have a profitable and productive blogging day

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