It’s not about you.
It doesn’t matter who “you” are. It’s no longer about your rights as an individual, or the on-going need to safeguard the rights of all individuals. No, at this stage in the American story, It is now about Barack Obama’s need to save everybody, and, thus, it is the “collective good” that matters.
It is now clear that President Obama is on a mission to convert the U.S. to “collectivism.” This, presumably, was part of what he was conveying during his campaign, when he promised “change” for America.
And rest assured that a “change” in America’s governing philosophy is well underway, because collectivism is a philosophy that emphasizes human “interdependence” over the traditionally American notion of “independence,” and the “wellbeing of everybody” over the ‘wellbeing of the individual person.”
So if the rights of a few hundred thousand individual investors get trampled on in the process of Barack Obama ushering-in the “American collectivist era,” well, that’s no big deal. Such sacrifices are worthwhile, as long as the greater good - the ‘collective good” - is enhanced.
Two weeks ago in this column I wrote about the President inserting himself in between the Chrysler Corporation, and some of Chrysler’s secured creditors. I pointed out that the status of being a “secured creditor” (as opposed to being an “unsecured creditor”) implies some specific legal rights. For example, in the event that a borrower - in this case, the Chrysler Corporation - declares bankruptcy, a “secured creditor” has the right to full payment of what the borrower owes, before the borrower goes about “negotiating” reduced ‘settlements” with the unsecured creditors. In the case of Chrysler, there are a handful of hedge funds that loaned money to the company, and, thus, these hedge funds are legally entitled to 100% repayment.
The legal rights of secured creditors are grounded in constitutional law, and the constitutional rights of individuals to make contractual commitments with each other. It’s also a very serious legal problem for an individual or group to disrupt other peoples‘ contractual relationships- in legal-speak, it’s called “tortious interference” - and until now, it has been unthinkable that the President of the United States would do such a thing, while in the process trample upon these very sacred Constitutional rights of private U.S. citizens.
But things are different now. We’re on a journey towards “collectivism,” and in “saving” Chrysler, Obama will serve the “collective good” and save us all.
Austin Hill is an Author, Consultant, and Host of "Austin Hill's Big World of Small Business," a syndicated talk show about small business ownership and entrepreneurship. He is Co-Author of the new release "The Virtues Of Capitalism: A Moral Case For Free Markets." , Author of "White House Confidential: The Little Book Of Weird Presidential History," and a frequent guest host for Washington, DC's 105.9 WMAL Talk Radio.