Friday, April 24, 2009

Is Obama Taking Over The Banks?

Pundit and former Clinton White House adviser Dick Morris thinks he is - -

President Obama showed his hand this week when The New York Times wrote that he is considering converting the stock the government owns in our country’s banks from preferred stock, which it now holds, to common stock.

This seemingly insignificant change is momentous. It means that the federal government will control all of the major banks and financial institutions in the nation. It means socialism.

The Times dutifully dressed up the Obama plan as a way to avoid asking Congress for more money for failing banks. But the implications of the proposal are obvious to anyone who cares to look. . . .

Morris goes on to lay out his case before closing with - - -

The Times story did not influence the dialogue of the day. People were much more concerned with the death of 21 horses at a polo match. Much as we will miss these noble animals, we will miss our economic freedom more.

His entire column's here.

Morris is calling our attention to something very, very important. Be sure to read his column if you haven't already.


Anonymous said...


Good article.

About all we can do is to continue to educate people on the risks associated with these moves.

It's up to the people to decide. If a majority desire a socialist government, then that's what they will get.

Keep your eye on California's upcoming vote to increase taxes. It may signal a mood change........or it may not.