John Ransom

I’d like to see a show of hands from people who believe that Barack Obama and his administration don’t use their regulatory power to punish enemies and reward their friends.

Thought so.

I don’t think that Obama’s administration is much different than other administrations in this regard, except varying in the intensity of their pursuit and the volume of regulations they have at their disposal.

This abuse by all politicians, is, in a nut shell, the reason why our Republic, based upon limited government, is supposed to, you know, limit the powers of the government.

Because Obama—and others-- have taken the spoils system to new extremes, extremes that allow them to criminalize any behavior they wish. And then, through selective prosecutions, they can punish enemies and warn friends.

This helps to remind EVERYONE: “Who needs enemies when you have friends like us?”

Bada Bing!

The Party that campaigned “My body, my Choice” has turned over the regulatory power over everyone’s body to the IRS, and now shares, under Obamcare, Dodd-Frank, Sarbanes-Oxley, the Clean Air Act, the Community Reinvestment Act and the Patriot Act, along with others, much of the punitive power that the Oprichniki had under Ivan the Terrible, if just a bit less terrible.

I mention this because one of Obama’s smartest critics has been under relentless attack by the administration under threat of civil and criminal penalties for loans made and then sold to the federal government under the government’s sub prime lending schemes also known as Fannie Mae and Freddie Mac.

JP Morgan Chase and Jamie Dimon in particular have been subject to record fines, civil sanctions and threat of criminal prosecution.

Their crime apparently has been that Dimon in particular is a critic of the administration and that JP Morgan was one of the better-run banks.

John Ransom

John Ransom is the Finance Editor for Townhall Finance, host of Ransom Notes Radio and you can catch more of the best money advice and monetary commentary by him daily 10am PT, 1pm ET at or on Comcast Cable