GOVERNMENT RUN - WELL - EVERYTHING

Well, here we go. The Federal Reserve is about to take over the world. Well, maybe not the whole world, just our chunk of it.

President Barack Obama is expected Wednesday to propose the most sweeping reorganization of financial-market supervision since the 1930s, a revamp that would touch almost every corner of banking from how mortgages are underwritten to the way exotic financial instruments are traded

The crux of this giant new plan is something they call white paper.

This will remake the powers of the Federal Reserve, and they will now oversee the biggest financial players, and give the government the power to unwind and break up systemically important companies.

What does that really mean? It means that the Federal Reserve and the Treasury Department will now decide if you need to be taken over as a company, Will not matter if you think you should be taken over. Doesn't even matter if your company is in trouble.

This is the government rewriting the law, so they can take over any company they want. Which would seem to be something they like to do.

Considerations of stability, safety and systemic risk have to loom larger in the planning, thinking, and strategizing of every financial institution going forward than they have in the past, White House National Economic Council Director Lawrence Summers said in a speech on Friday.

I think that means, if we think you are too big, we are taking you over. Systemic risk, that is a fairly new term they came up, means we think we should take over your business.

Seems like a hard sell, since Congress is now floating around a Bill to audit the Federal Reserve. But, never underestimate the strong arm tactic's of this Administration. And the lobbying that the Federal Reserve is now doing in Congress to kill that Bill.

They do not want anyone looking into their books.

So here we go, lets give the Federal Reserve, which I remind you, is not a government agency, complete control over our business sector.

Let me once again say, The Federal Reserve was put into place to avoid economic crashes. Five years after they were formed, the Great Depression started. And the FED had a major hand in causing it. Here we are again, in an economic disaster, and the FED once again had a major hand in causing it.

And now, as a result of this excellent management of our economy, we are giving them carte blanch to take over any private business they see fit. I am sure they already have their eye on a few to get them going.

This will take Congress completely out of the loop. Not that I think they do a wonderful job, but at least they sometimes slow things down a bit, by bringing things into the public arena.

Well, if this goes through, those days are gone. The Administration and the FED can swallow up any company it wants without saying anything to anyone.

By taking over the Banking system, as they already have, they have created a giant slush fund for themselves. They can now move around vast amounts of money for whatever they want, without involving Congress, or any public discloser. That in itself should scare the heck of of you.

This is just the next logical step. All the pretty speeches in the world, can not hide what they are actually doing. Well, I guess they can. Folks still believe what Our Dear Leader says, and are not paying attention to what he is doing in reality.