Sunday, April 5, 2009

Banks not allowed to pay back taxpayers?

One of the most frightening things I've read. According to this article, President Obama is refusing to allow the banks to repay the taxpayer money they were lent, in order to keep control of the banks.

If it's not the case that this administration wants the government to control every aspect of the economy, as the Soviets tried to do and failed, then the President better explain immediately why the taxpayers shouldn't be paid back whenever possible for the billions we've poured into what used to be private companies.

Things like this make me believe that those who claim Obama wants a completely Soviet-style controlled economy are not fringe kooks. Certainly, he feeds the paranoia.


  1. I have kept my true fears mostly to myself but I have to say I feel that there is a sinister underlying reason to the way things are being handled presently. I just hope that I am completely wrong.
    I have long believed that corporate greed had been the main fuel of the big push to globalize this country, with a plan to expand markets to world wide markets and an attempt to pull 3rd world countries up to a closer level of America. But the problem is becoming apparent that America has to drop down to those levels and it can’t without a heavy price, which I feel we are now seeing. Our countries morals and values are being questioned constantly and we now have the courts making unprecedented rulings in favor of cultures involved instead of our Constitution.
    I just hope that folks will start to wakeup and act, instead of just wondering what happened to the way things were.

  2. I can't say I'm surprised. Government ALWAYS tends toward abuse of power. That's why the founders admonished us about remaining vigilant and limit the powers of government. We've fallen asleep--since about the time of the greaty depression when our grandparents and great-grandparents allowed the govt to expand so drastically. But I have hope. It seems to me that people are waking up and making a lot of noise.

    Beware ever taking govt money.

  3. I'm one of those who's awake but feeling paralyzed by the stupidity of my fellow countrymen. I'm afraid my country is going down the proverbial 'sh----r' as I watch helplessly on the sidelines.

  4. Although I am no fan of Obama, this article does not appear credible. The CEO of Sun Trust was on CNBC this morning to explain how Sun Trust was able to repay the TARP. Although Sun Trust may be an exception, it does appear possible for banks to replay the TRAP and avoid government interference.

    Bob Shannon

  5. I'm not a fringe kook, at least I wasn't until recently. But sure, Obama is running a socialist takeover, without any real resistance.

  6. Good stuff. I've posted a link to it on my Blog. I'll take it off if you'd prefer, but should you wish to link to mine please feel free.