It's never been a secret that whenever Americans attempt something, they always put their own unique touch on it. There's the gag about how during the space race, we spent millions developing a pen that would write in zero-gravity, while the Soviets merely used pencils. Tales like that (true or otherwise) highlight that.
Now, on our march to socialism, we're apparently going to put our own nasty spin on all the assets Big Government is snapping up. Gerald O'Driscoll writes in the WSJ today about how Congress is apt to "politicize" bank assets.
One line from the article really jumped out at me as I was reading it:
Hm, now I've heard a couple people talking about our march toward socialism, Glenn Beck in particular - and every time I hear about this, it is being compared to our "friends" in Venezuela. It's no real secret here that Hugo Chavez runs a socialist nation and has been making attempts to grab more and more power, just like any despot would. Is this the road we need to lead ourselves down? And let's not be so naive as to think that "it can't happen here" - think that something can't possibly happen here led to Pearl Harbor, it led to 9/11 - need I go on further?
O'Driscoll continues:
...[we] know how the government runs financial institutions -- consider Fannie Mae and Freddie Mac. Or IndyMac, whose management by the FDIC has been criticized for inflating the rescue costs through its liberal loan-modification program. A money-center bank in government hands would become a conduit for politicized lending and grants disguised as loans. That's what's happened at Fannie and Freddie. The government would never let go of its political ATM. You might as well consolidate such an institution with the Fed from the outset.
We've already seen how well our Congress reacts to crises lately. One side loves to hold the other entirely accountable, when in fact it's corruption and greed on both sides that made this possible. Not just this standing Congress should be held accountable, but several previous sessions of Congress as well. America didn't suddenly wake up one day to find this mess - we have been sliding this way for years, decades. The problem is that We the People stopped getting involved and let people make a living (and a handsome living at that) from public service, which at our nation's founding was explicitly made to be NOT a monetary gain. Our Founders knew if politicians turned a position of honor into a profit center that our principles would be eroded. And here we stand now, our people not knowing what America was built on more than knowing. A nation of freedom teetering on the brink of socialism and one-party rule.
How have we let ourselves get here? It's a good question, but one we should refrain from answering until we reclaim our government and scale it back to the limited scope it is supposed to have.
F.D. for Two Joe Schmoes
Crossposted on Grizzly Groundswell
Now, on our march to socialism, we're apparently going to put our own nasty spin on all the assets Big Government is snapping up. Gerald O'Driscoll writes in the WSJ today about how Congress is apt to "politicize" bank assets.
One line from the article really jumped out at me as I was reading it:
There are some commentators, pursuing an ideological agenda, who want to use the current crisis to nationalize the entire financial system. That is nationalization in the style of a Latin American despot.
Hm, now I've heard a couple people talking about our march toward socialism, Glenn Beck in particular - and every time I hear about this, it is being compared to our "friends" in Venezuela. It's no real secret here that Hugo Chavez runs a socialist nation and has been making attempts to grab more and more power, just like any despot would. Is this the road we need to lead ourselves down? And let's not be so naive as to think that "it can't happen here" - think that something can't possibly happen here led to Pearl Harbor, it led to 9/11 - need I go on further?
O'Driscoll continues:
...[we] know how the government runs financial institutions -- consider Fannie Mae and Freddie Mac. Or IndyMac, whose management by the FDIC has been criticized for inflating the rescue costs through its liberal loan-modification program. A money-center bank in government hands would become a conduit for politicized lending and grants disguised as loans. That's what's happened at Fannie and Freddie. The government would never let go of its political ATM. You might as well consolidate such an institution with the Fed from the outset.
We've already seen how well our Congress reacts to crises lately. One side loves to hold the other entirely accountable, when in fact it's corruption and greed on both sides that made this possible. Not just this standing Congress should be held accountable, but several previous sessions of Congress as well. America didn't suddenly wake up one day to find this mess - we have been sliding this way for years, decades. The problem is that We the People stopped getting involved and let people make a living (and a handsome living at that) from public service, which at our nation's founding was explicitly made to be NOT a monetary gain. Our Founders knew if politicians turned a position of honor into a profit center that our principles would be eroded. And here we stand now, our people not knowing what America was built on more than knowing. A nation of freedom teetering on the brink of socialism and one-party rule.
How have we let ourselves get here? It's a good question, but one we should refrain from answering until we reclaim our government and scale it back to the limited scope it is supposed to have.
F.D. for Two Joe Schmoes
Crossposted on Grizzly Groundswell
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