Control, Not Recovery

The Wall Street Journal’s Stuart Varney is dead-on correct. The Obama administration’s refusal to accept returned federal funds from companies which accepted TARP funds is rooted not in some strange, Keynesian approach to economic recovery but rather Karl Marx’s approach to governance.

Okay, well Varney doesn’t exactly say that much. Still, whether done voluntarily or involuntarily, when banks accepted the TARP money, they did so without the absolute knowledge that the Obama administration would adopt Vladimir Lenin’s mantra of “the worse, the better,” (which translates, roughly, to “you never want a serious crisis to go to waste”) and change the rules as the economic downturn–crisis, I tell you!–progressed. At first, after all, these bailouts were short-term, taxpayer-funded loans intended to aid troubled businesses and lending institutions and to facilitate the flow of credit once again — now, it’s become apparent that the carrot was attached to a stick, and the disbursement of TARP funds were more the first step toward a controlling stake.

This money is supposed to come back to taxpayers. That’s the whole idea, and for that reason alone the Obama administration should accept whatever money now-reticent lending institutions are clamoring to return. Unless, of course, the Obama administration never intended to recoup the money in the first place. Unless, of course, the Obama administration was always more about using crisis to establish control over the banking industry.

Nah. That’s what a communist would do. This is Change We Can Believe In.

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Comments

  1. Anonymous says:

    everyone keeps sayin’…better do something before it’s too late….but…that time may have already come…i fear!

  2. COMMUNISM CASTRATED says:

    HAMMER their noggins, and SICKLE their manhood, what little of it they probably have.

  3. WORTH REPEATING says:

    If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that ye were our countrymen.” Samuel Adams in speech at the Philadelphia State House on
    August 1, 1776.

  4. O'ER THE RAMPARTS says:

    This country is obviously IN DISTRESS. The international signal to indicate distress is to fly the flag upside down. With NO disrespect to the flag whatsoever, we need to set aside a day to fly all our flags upside down.

  5. Linda says:

    Excellent idea from “O’er The Ramparts.”

  6. Anonymous says:

    Worth Repeating….

    Thank you for sharing that!

    That same fire and passion for freedom that S.Adams and others felt for this country has to be ours as well at present. Wishy-washy-ness will not win the day.

    (would write more…but feeling a bit emotional at present…sad at what we’ve lost and fired up for what needs to be done!)

    ~laura

  7. Anonymous says:

    MAKE SURE YOU ATTEND YOUR LOCAL TEA PARTY ON APRIL 15TH!!!!!

    There’s no excuse!!!

  8. whats_up says:

    What bank are you referring to? I little more facts on this would be nice before lamblasting this administration. Now if this does prove to be true the Obama administration should be held accountable. Too many people jump on bandwagons before they know all the facts of a case, perhaps a little patience here would be prudent.

  9. 1776 Part II says:

    Cheer up Laura, I have a feeling thousands of patriots are going to take of this.

  10. Dee says:

    This is a dictorship. Geithner wants to replace the Board of Directors at GM and replace any top executives of businesses that he feels are not doing well. They want to tell GM what cars to produce but do not want to get into the auto business. Right. BO goes overseas and tells everyone how arrogant the US is. Has he no pride in the country that he was elected to represent?Does he not remember how we fought for France and Germany? There is an article on the Fox website on how it would be possible for Michelle O to run for president in 2020. Lord help us! Each day I feel more helpless and worry about how much of our contry will be destroyed before his term ends. Is there no one or no way in which this insanity can be stopped? This is why everything has to be done in a hurry, before people realize what has been done to the US.
    Thank you, Jeff, for great articles and thanks to those who contribute.

  11. tm says:

    What we have here is a master manipulation from an aged, amoral currency manipulator, the shadow president George Soros.

  12. DARK IN THERE, HUH? says:

    whats_up…? I’ll tell you whats up…. your head up your liberal keester.

  13. SAVE PRIVATE RYANS DIGNITY says:

    We must do everything we can to stop the teleprompter man from making the 60th anniversary ceremony at Normandy Beach, France in June. We don’t need to see his fake tears and utterly fake respect for our fallen heroes.

  14. Mary Ann says:

    Whats_up said…

    “What bank are you referring to? I little more facts on this would be nice before lamblasting this administration. Now if this does prove to be true the Obama administration should be held accountable. Too many people jump on bandwagons before they know all the facts of a case, perhaps a little patience here would be prudent.”

    Whats_up: The “Wall Street Journal” is better than most newspapers about vetting and investigating their stories before they print them. If the WSJ says Obumma is refusing to accept returned funds, then I believe them. If you need more verification than that, I suggest you just hop right to it and do it.

    Jeff, this isn’t “change we can believe in,” it is “chains we can believe in.”

  15. Anonymous says:

    I have some contacts in the banking industry and the internal chatter strongly believes the bank referred to in the article is Wells Fargo. I know of another big bank that was forced to take TARP money.

    The extortion charge is true. We are living a nightmare!

  16. Anonymous says:

    Whats_up said…

    “What bank are you referring to? I little more facts on this would be nice before lamblasting this administration. Now if this does prove to be true the Obama administration should be held accountable. Too many people jump on bandwagons before they know all the facts of a case, perhaps a little patience here would be prudent.”

    It is fact.

    Last Friday morning on Fox:
    Judge Napalatano(sp) was on talking about the bank bailout, the unconstitutional nature of it, and the pressure put on financially solid banks to participate. He says he personally knows one of the CEO’s summoned to Henry Paulson’s office last September(under Bush) when the financial markets were collapsing. This large holding bank, he did not name, was one of the nine bank heads called to Washington to take the first $800 billion bailout money. This CEO told Paulson they needed no federal money because they had none of the toxic assets and were financially sound and profitable. He was told they all had to take the money because the government didn’t want the public to know which specific banks were really in trouble. When he again declined he was threatened with a 5 year FDIC audit that would be made public. The CEO only agreed to take the proposal back to the board and company execs. The board overruled the CEO out of fear of the public perception of the most severe FDIC audit, even though there was nothing to find. They assumed they could take the money and later pay it all back and be out of it. Then the election and enter Obama and his team. The deal was the bank would issue special stock that the government would buy, in this case about $2 billion worth. This gave the government about a 2% take in the bank. In late February they get a letter from Treasury saying we own 2% of your bank and we want seats on the board, obviously to set policy, pay, etc. The bank CEO and the board wanted no part of that so they returned the money plus interest at the agreed terms. The government refused the money and said, too late we own part of you and we want representation on the board.

  17. Anonymous says:

    i think in order to be prepare for what is coming we should all start reading “the black book of communism:crimes, terror repression”, published by harvard uni.press

  18. BAAAAAA says:

    It seems a few sheeple keep making it in here Jeff. I wonder if they report back to their shepherd savior.

  19. Anonymous says:

    anonymous @ April 6, 2009 4:14 PM:

    And our government calls the mafia ‘corrupt’.

    Too bad we can’t file a RICO complaint against the USURPER… or maybe, YES WE CAN, when the FRAUDSTER is finally exposed!

  20. Gail B says:

    What’s_Up–
    If there’s an avalanche coming and it’s about to wipe you off the slippery slope, but you notice a rock that hasn’t moved yet, the one rock is not sufficient evidence that you’re not going down with the side of the mountain.

    Every administration with a Democrat at the helm has steered the ship of America in the wrong direction, and we have paid for the pork and social programs with our freedoms. How? We lose control of our lives when we depend upon the government to take care of us.

    This administration is doing everything within its means to strip America of its sovereignty, the people of our money, and the elderly of our lives with the wonderful healthcare it wants to set up.

    You don’t get it? The current administration wants COMPLETE CONTROL of our lives. There’s danger that we may not even be allowed to have a backyard garden to grow our own food!

    THAT’S “What’s Up!”

  21. Anonymous says:

    The CEO of this large holding bank,(one of the nine bank heads called to Washington to take the first $800 billion bailout money,) should file complaints to their state’s attorney general against the federal government for criminally (and uncontitutionally )forcing them to accept the money and then forcing them to give them 2% of their company’s shares! Or file lawsuits to challenge the federal government’s unconstitutional acts. These banks have money and power, why don’t they use it? If all of them stand up against the government’s tyranny, even ACORN can’t smear them!

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