The Dark Side of the Force

With money comes power, right? Then it should surprise no one that with all the money pouring out of Washington, that the move to consolidate power would closely follow.
This week, Treasury Secretary Timothy Geithner released details of the Obama administration's plan to further control the private sector. If Obama and Geithner have their way, more financial institutions will be forced to "report in" to the government and have restrictions placed on what the institutions and the investors can and can not do with their money. With each passing day, Obama is chipping away at America.
The premise of this new Obama/Geithner plan is to do something about "toxic assets," which the government is now calling "legacy assets," because it sounds less... well... toxic. The Heritage Foundation notes multiple flaws in this plan. In particular, "the plan will almost inevitably lead to even more expanded government micro-management of financial firms."
This big-government plan has thankfully drawn swift opposition, not only do some lawmakers and business people reject more government intrusion, they also question whether it would accomplish the specified result.
"We're not in this mess because we need new rules," said Bill Fleckenstein, a Seattle-based hedge fund manager who accurately predicted the housing bubble. "We need to enforce the rules we already have," he said. "What we had was a complete breakdown by all our regulators. They simply didn't do their jobs."
These are the same SEC regulators that missed the Bernard L. Madoff Multi-Billion Dollar Ponzi Scheme!
“…massive fraud — both in terms of scope and duration," said Linda Chatman Thomsen, Director of the SEC's Division of Enforcement regarding the Bernardd Madoff sceme. "We are moving quickly and decisively to stop the fraud and protect remaining assets for investors, and we are working closely with the criminal authorities to hold Mr. Madoff accountable." Andrew M. Calamari, Associate Director of Enforcement in the SEC's New York Regional Office, added, "Our complaint alleges a stunning fraud that appears to be of epic proportions."
According to regulatory filings, the Madoff firm had more than $17 billion in assets under management as of the beginning of 2008. It appears that virtually all assets of the advisory business are missing. Who was guarding the Hen house....The SEC!

And who does the Obama Administration wish to sit in the seat of ultimate authority over this mess? Treasury Secretary Timothy Geithner, the man who could not even pay his own taxes! The last thing America needs is more control transferred to the federal government, especially this federal government. Once control is taken by Obama, the next logical step is to seize more power. No one ever gives power back.
Being a fan of Star Wars, I can't help but recall Emperor Palpatine's words as he was granted even more power by a willing society: "It is with great reluctance that I have agreed to this calling. I love democracy. I love the Republic. Once this crisis has abated, I will lay down the powers you have given me!"
Similarly Obama goes on television and answers softball questions from hand picked reporters and he just smiles. He smiles because he knows that he is moving America exactly in the path that he wants... a path toward socialism.



Mark Levin, Constitutional Lawyer, Radio Talkshow host and Author of “Liberty & Tyranny” speaks out regarding this move by President Obama and Treasury Secretary Timothy Geithner: