The President's Permanent TARP Bailout Socialism Bill

by Peter Ferrara - April 28th, 2010 - American Spectator

... Still another option under the Dodd bill is for the government to seize the competitors of politically favored institutions, and even to sell those seized firms to the favored too big to fail operations. All of these possible government seizures and bailouts are expressly shielded under the bill from any judicial review.

With such arbitrary government power to favor some firms and punish others, the financial community, and, indeed, business overall, will be political captives of the Obama Administration and the reigning Washington Democrats. If the permanent bailout bill passes, what financial company is going to participate in any way in a fundraiser for a 2012 Obama challenger, or even Republican Congressional or state candidates? What company will dare not pay protection money in the form of political contributions to the reigning Democrats?

It is not just abhorrent that this bill is being considered. It is abhorrent that Republicans do not know how to portray their opposition.