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Obama Wants To Dismantle Non-Banks

From a gleeful Associated Press:

Obama seeks new powers to dismantle nonbank firms

By Anne Flaherty, Associated Press Writer Thu Oct 29

WASHINGTON – A year after Lehman Brothers collapsed, helping to trigger the worst financial crisis in seven decades, the Obama administration is pressing Congress for the power to dismantle other nonbank firms considered so large and influential that they could bring down the entire economy.

Treasury Secretary Timothy Geithner was asking a House panel on Thursday to pass legislation that would enable federal regulators to identify and monitor big financial firms and step in to wind them down before they collapse.

The proposal, worked out in an agreement with House Financial Services Committee Chairman Barney Frank, D-Mass., also will give new powers to the Federal Reserve to enforce tougher requirements for these "too-big-to-fail" companies

Democrats are largely behind the plan. But Republicans say it will create the expectation that certain companies are so big that the government won’t allow them to fail and will always rescue them with taxpayer dollars

Republicans also say the bill would put the taxpayers on the hook for administrative costs

From the Oxford English Dictionary:

amok, a. and adv. Also amock, amuck.
[ad. Malay amoq adj., ‘engaging furiously in battle, attacking with desperate resolution, rushing in a state of frenzy to the commission of indiscriminate murder… Applied to any animal in a state of vicious rage’; Marsden Malay Dict.]
1. a. adj. or n. A name for a frenzied Malay.
b. A murderous frenzy; the act of running amok.
2. to run amok: to run viciously, mad, frenzied for blood.
3. fig. Wild or wildly, headlong or heedlessly.

They have tasted blood, and now they can’t get enough of it.

Meanwhile, the only objection that the Republicans can raise to the government taking over even more of our economy is that it might cost too much.

This article was posted by Steve on Thursday, October 29th, 2009. Comments are currently closed.

17 Responses to “Obama Wants To Dismantle Non-Banks”

  1. Reality Bytes says:

    This says it all doesn’t it?


  2. proreason says:

    Our government doesn’t like anything that can compete with itself.

    Neither did Stalin’s, Mao’s and Hitler’s governments.

  3. Tater Salad says:

    Kid Mao is dismantling The United Socialist States of America as we speak. These left wing loons are in lock step with this moronic adminstration and they are dead set on “more entitlements”. They think the rich are going to pay for all of this but in the end…….2012….it will be them and them only.

  4. GetBackJack says:


    “The second definition of ‘whore’ in the American Heritage Dictionary is ‘a person considered as having compromised principles for personal gain,’I think a reasonable person could believe that a person who was paid to promote and defend the Obama Administration has compromised principles for personal gain.”

    “the Democratic Party is nothing but career lobbyists who used to work for Goebbels and advocate for whatever they gets paid to promote,” I reportedly said.

  5. Right of the People says:

    You could say the MSM have become Berserkers for the Won™.

    From Wikipedia: Berserkers (or Berserks) were Norse warriors who are reported in the Old Norse literature to have fought in a nearly uncontrollable, trance-like fury, a characteristic which later gave rise to the English word berserk.

    I like the term and definition better than “amok”. Just a personal preference you see.

  6. Reality Bytes says:

    Whore?! The whores are those who sell out their liberty to the state. Now the Congress & President, They Be The Pimps. Savvy?

  7. canary says:

    Video Footage: Barney Frank “there will be death panels enacted by this congress” while Tim Geithner chuckles, rubbing his hands in anticipation.


    meanwhile wimpy Republicans watching their p’s and q’s as in the
    “silence of the lambs”, or rather the “silence of the Republican wimps”.

    • Liberals Demise says:

      “….and Republicans just…..eh….do what they’re told.”
      Obama was heard to say, lately.

  8. canary says:

    http://glennbeckclips.com/ 10/28/2009

    36 – Seg 2- of 6/ 36A- Seg 2a of 6 (start at approx 2 mins)

    These 2 segment clips are good. Into the 2nd of these 2 clips (2 mins)

    Beck goes into the possibility of America having to use land and real-estate (Fannie and Freddie already own 1/2 the mortages, and for sometime the Republicans have been concerned of Obama selling our National Parks out (townhall meeting in MO, Obama said within 2 years, close National Parks, and soldiers won’t get paid, if we are to pay social security). Beck also ties in that we are not using our own nations rescources (one of Obama’s turn around).

    Personally I can see Obama allowing China to come over and use our coal, shale, oil, give all these empty houses our govt owns to them. After all, China owns America. And China is very concerned since Obama took over, threatening twice we would not pay the full amount back.

    While I understand American news did not cover tea-party’s. I sure hope global news saw it, so they know not all Americans are dumb. Obama has brought so much shame, and he’s not done. What can one expect from a man who loves the world and blames America for their problems.

    • canary says:

      p.s. Friday Glenn Beck will be doing hour on global warming. His hour with real doctors was excellant. I know he’s a bit goofy, but his contract with FOX after CNN fired him, was to be more of entertainment & news. And I think Beck has a real heart.

    • proreason says:

      I don’t find Beck goofy at all.

      He is the best communicator on TV.

      All the other guys are Talking Heads….which is fine for people like ourselves who are into the subject matter.

      But Beck uses all sorts of visual displays, props, a debt clock, and creative and humorous eye and ear-catching examples. He mugs for the camera, does impressions and makes fun of the ideas he doesn’t like.

      They don’t hate him because he’s a dummy. They hate him because he is breaking through and communicating with people who wouldn’t otherwise pay attention. He is truly the conservative antedote to Jon Stewart.

      Beck is the only person who has taken conservative communication beyond Rush.

      And he is as spot-on as Rush about conservatism and the nature of liberalism.

      And he is a nice guy that seems genuine about his concerns for the country.

      He’s a break-through genius.

    • joeblough says:

      Beck is freakin’ brilliant.

      He’s the best we’ve got out there right now.

      No disrespect intended to Rush of whom I am plainly in awe.

      Watching Beck and Rush in action these days is like reading something out of Homer’s Illiad, in which the heroes of the Greeks run to the front line to compete for honor in combat.

      All honor to Rush for having defined and prepared the battlefield and set the lines singlehandedly.

      Nonetheless, I’m inclined toward Beck as the man of the moment. But maybe that’s just me.

      It’s a true inspiration.

  9. BigOil says:

    Meanwhile, the non-bank GMAC – now owned by the government – is asking for bailout number three to the tune of 11.5 billion dollars.

  10. Chuckk says:

    “Meanwhile, the only objection that the Republicans can raise to the government taking over even more of our economy is that it might cost too much.”

    The Republican Party is dead. It might take it a few years to officially merge with the Democrats, but it is as worthless as a nipple on a man.

  11. MinnesotaRush says:

    “Obama seeks new powers to dismantle nonbank firms”

    Should read: “o-blah-blah seeks new powers to dismantle America”.

    Seems as though he (and his gang) are doing quite well.

    • Liberals Demise says:

      It is not the fall that will do them any harm ……… It is the sudden stop that will be the mother of all pain!!

      “BANK” on it!!

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