"U.S. Seeks Expanded Power to Seize Firms"

The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.

WaPo Link

And guess who they want to be in charge of wielding these new seizure powers?... Wait for it... THE FED. :shk:

I have to say, I stumped for Obama, and dig the the man's intellectual scope and style, but I am becoming ever more suspect that is raison d'etre is service to Wall St.

I realize he has been deluged with a mountain of garbage that just keeps growing as a gift from the last admin, and it debatable if this is a remotely reasonable idea to begin with, (general thoughts on that, anyone?) but the very idea that you would put THE FED in charge of such a plan surely makes it a scheme... sigh.

More power to the fed...... just what we need. The same crooked thieves that helped to create this mess. I guess more power for them would be appropriate, given the way that everything else has transpired. They own us all, lets just make it official. We are their slaves and they can do whatever they want with us.

This is really getting disgusting. If you aren't disgusted yet, go ahead and read this... www.rollingstone.com...

Hell, why don't we just make the treasury secretary President.

Congress needs to quit delegating its powers to the executive branch.

More socalism indeed.

Man the people doing all this must have a fun time doing all these things.

reply to post by Karlhungis


Thanks for the link Karl. It is, to date, the most concise telling of what went down and how it went down that I have read thus far

I feel the same way. It should be required reading. It makes my blood boil though.

I'm not surprised. The Federal Reserve Chairman is the most powerful man in the world. Nobody had a problem with this when everything was running smoothly and Greenspan was 'the Oracle." Now that everything blew up, we all want the President to come in and take the reigns. Won't happen.

In essence, you work for the banks. So does the President.