Obama Seeks Enabling Act

The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.

Source:


www.washingtonpost.com...

Wow... they are destroying our country... giving supreme power to all these 'elected' officials... just another case of how they're ripping our country to shreds

Just one more step for the NWO... its all been baby steps, the tortoise won the race after all right...

The problem with the mortgage meltdown is a lot of these companies who have no involvement with, now own the mortgages. Because of de-regulation, anyone is able to buy and sell the mortgages.

The big reason these banks can't give people leniency on these mortgages is because they have been broken up and sold so many times among these businesses.

In the effort to help stall forclosures and keep people in their houses, someone has to take over and mandate all companies to put a hold on foreclosures, because they certainly can't trust one another to do it themselves.

The article also says that the control will also be overseen by the Federal reserve, white house, and other agencies, so it is not single control. But more likely an effort to stall foreclosures and give people breaks on their failing mortgages.

"The man with NO past, is given America NO future"
Someone impeach this loon before he takes us all down with his ship...

This is a poker game, with ONE person holding both hands. BOTH parties are/do play the fear card; one side uses the broader 'War On Terror' card to further their agenda, and the other is trying to use economic fear to nationalize companies.....with the end result the SAME. Remember how mad the left became because of the Patriot Act? Remember some in the media complaining about government's abuse of power via the Patriot Act? Well, here we have the left using an economic crisis to further THEIR agenda. It's no different. It's all a big game.

[edit on 1-4-2009 by Manwin]

Old News, me thinks.

www.abovetopsecret.com...

But yeah, it is pretty scary stuff.
This stuff must be stopped.

In fact, this thread was posted before the one mentioned by Jay:
www.abovetopsecret.com...