I agree with this opinion totally. Obama is rejecting TARP paybacks so he has a say in the Bank’s businesses. This is Totalitarian in nature.
Obama Wants to Control the Banks
I must be naive. I really thought the administration would welcome the return of bank bailout money. Some $340 million in TARP cash flowed back this week from four small banks in Louisiana, New York, Indiana and California. This isn’t much when we routinely talk in trillions, but clearly that money has not been wasted or otherwise sunk down Wall Street’s black hole. So why no cheering as the cash comes back?
My answer: The government wants to control the banks, just as it now controls GM and Chrysler, and will surely control the health industry in the not-too-distant future. Keeping them TARP-stuffed is the key to control. And for this intensely political president, mere influence is not enough. The White House wants to tell ’em what to do. Control. Direct. Command.
The Question I have is if things recover, will Obama allow the TARP funds to be paid back? Or this is a way for the government to get a of company profits? Either way this is not a good development.
Tags: Marxism, obama, Totalitarianism
