Financial Regulation Bill is Socialism

Financial Regulation Bill is Socialism

President Obama has taken the United States one more giant step toward socialism by ramming through the Senate his financial regulation bill.

The bill authorizes the secretary of the treasury -- a political appointee -- to seize any financial company (bank or non-bank) simply because, in his opinion, it is too big to fail and in danger of insolvency. This power can be used for political retribution, pressure for campaign funding or any other abuse that bureaucratic whim or partisan politics can conceive. It is a power Fidel Castro or Hugo Chavez would love to have!