The article, and its several links, highlights the dangers of letting our government officials act as though they have unlimited mandates. The $700 Billion in TARP funds that Congress granted to the President has become an excuse for interventions that would have been unthinkable only a few years ago.
This article also makes the case that Mr. Geithner is setting up "programs" that involve billions or trillions of taxpayer dollars, and has no explicit congressional authority.
What is not being discussed is the inevitable corruption (and this)of the government as it becomes entangled in the the enterprises that it is seizing.
Much of the conversation in Washington today is over what legislation will be required to "fix" our financial system. Little or no thought is being given to the danger of corruption in a new regulatory regime that has life or death power over almost every company in the US.
Power corrupts. No amount of intelligence or careful crafting of law will prevent enormous new power from causing enormous new corruption.
Fannie Mae and Freddie Mac should be cautionary tales about what not to do, yet history is once again being ignored in a naive attempt to "fix" things.
Those of us who respect the Constitution, and hope our children will enjoy a free economy, with the opportunities we enjoy, need to remain active in opposition to these statist schemes that will do little more than concentrate power in Washington D. C.
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