Rep. Michele Bachmann and Glen Beck discuss the Fed's move to take its preferred shares of bank stocks and convert them into common shares.
It's a back door into nationalization and a raw deal for tax payers.
It's very simple; Congress probably will not authorize more "bailout" money for the banks, so this is a shell game, bait-and-switch move towards socialist nationalization.
Another example of Obama's war on capitalism.
Obama Wants to Control the Banks
There's a reason he refuses to accept repayment of TARP money.
Treasury Secretary Tim Geithner told Katie Couric he is open to more unconstitutional terminations of CEOs, continuing Team "O"s assault on the markets, investors and capitalism.
President Obama, in a blatant abuse on his constitutional Executive power, felt it necessary to fire GM CEO Rick Wagoner.
Geithner has recently unveiled a plan designed to give Treasury Department the ability to take over financial institutions at the Secretary's choosing.
Recently, a bill has been introduced in Congress, HR 1664 Grayson-Himes Pay For Performance Act of 2009, which aims to cap pay which is not performance based and any and all employees who work for companies receiving bailout dollars.
It's a power grab to redistribute wealth, penalize the successful and establish a communistic "equality" among Americans. Regulation = control and power.
Team "O" wants to destroy free market capitalism. There is ample proof of Obama's war on investors. Welcome to The United Socialist States of America (USSA).
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I think she's the most real minded thinker of the bunch.
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