Sunday, April 5, 2009

Obama refuses repayment of TARP money

If this doesn't send shivers down your spine, it should. I was really worried about how Obama would handle the increased government power that Bush was forced to hand over to Obama after Bush's response to the financial crisis last fall with TARP, and this is a NOT a good sign. It's starting to smell like socialism, or if not, at least WAY to much government intrusion into the private sector.

Obama is fanning the flames of panic and public outrage to build the case for government power to regulate Excecutive pay. Then he is trying to tell Michigan what type of autos to build, and threatening bank CEO's in an attempt to exert power over the financial industry. Now he won't let banks who were forced by Paulson to take TARP money to repay it, because he doesn't want to lose his power over the bank!

If we let him takover his favorite 3 industries -- health care, education, and energy -- what will be left of the economy that isn't larglely controlled by government?

If a pollster called me today, I would definitely say the country is headed in the wrong direction.

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