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Location: California
Joined: 09/06/2008
Posts: 1071
Geithner wants "government regulatory structure".

This from the article,

Quote:
WASHINGTON – Treasury Secretary Timothy Geithner said Monday that the severe banking crisis shows the U.S. financial system failed a major test and is in need of an overhaul.

Geithner told a Washington conference that the Obama administration plans to work with Congress to put in place a stronger, more stable system with a modernized government regulatory structure.

Government regulatory structure? Anyone besides me find this disturbingly Marxist? Here's a link to the rest.

http://news.yahoo.com/s/ap/20090324/ap_on_bi_ge/geithner_regulations

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Joined: 07/29/2008
Posts: 723
Geithner wants "government regulatory structure".
Quote:
Government regulatory structure? Anyone besides me find this disturbingly Marxist?

Do me a favor, get a clue.

http://en.wikipedia.org/wiki/Regulatory_agency

expatriate's picture
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Location: Arizona
Joined: 10/26/2002
Posts: 3207
Geithner wants "government regulatory structure".

I see once again you have nothing of substance to add to the discussion. Out of your league again, Civet?

Here's something to consider -- Obama wants an unprecedented expansion of federal power to seize non-bank financial institutions.

That's right -- we're supposed to believe that the same people who lose so much money running Amtrak and the Post Office are the best choice to turn around a struggling enterprise.

That, and the whole "nationalization" thing.

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/23/AR200903...

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Location: California
Joined: 09/06/2008
Posts: 1071
Geithner wants "government regulatory structure".

Winger wrote,

Quote:
Do me a favor, get a clue.

This is from the Wiki link you kindly posted. Thanks. Sounds pretty Marxist to me. More so than what I wrote. All you have in your limited repertoire is derisive comments and links to other peoples thoughts. Backfired this time huh?

Quote:
A regulatory agency (also regulatory authority or regulator) is a public authority or government agency responsible for exercising autonomous authority over some area of human activity in a regulatory or supervisory capacity
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Location: California
Joined: 09/06/2008
Posts: 1071
Geithner wants "government regulatory structure".

Here's yet more of the same,

WASHINGTON – Pointing with dismay to the AIG debacle, the nation's top economic officials argued Tuesday for unprecedented powers to regulate and even take over financial goliaths whose collapse could imperil the entire economy. President Barack Obama agreed and said he hoped "it doesn't take too long to convince Congress."

http://news.yahoo.com/s/ap/20090325/ap_on_bi_ge/bailout_bernanke_geithner
Even if Obama is trying to help (and I have my doubts) it sets an alarming and dangerous precedent.

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Joined: 07/29/2008
Posts: 723
Geithner wants "government regulatory structure".

From the Wiki link it should be obvious that all branches of government have broad regulatory authority over much of our lives.

Government doesn't just decide to regulate because they feel like being a pain in the but. Look at hunting, can you imagine what would happen to the elk population if anyone could shoot one at any time?

The FDIC has been taking over banks with regularity at a far quicker pace than during normal times. The authority the Fed seeks is just the same. The FDIC doesn't ask or recieve permision, the owner or owners of the bank don't know they are coming, they arrive on a Friday evening and that's it. Gone. Private bank taken over and restructured by the Fed.

Calling names like Communist and Socialist, is juvinile.

expatriate's picture
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Location: Arizona
Joined: 10/26/2002
Posts: 3207
Geithner wants "government regulatory structure".

Well, let's take a look at Webster:

Socialism:
1: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
2 a: a system of society or group living in which there is no private property b: a system or condition of society in which the means of production are owned and controlled by the state
3: a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done

There's a big difference between government regulation of business and government ownership of business. If government uses a financial crisis to buy up a majority share of a business, this transitions the business from private ownership and administration to government ownership and administration -- SOCIALISM.

What's concerning about Obama's intent here is that when we started down the stimulus path, the issue was whether it was appropriate for government to use a company's desperate situation to purchase an ownership share in it. We're not using the term "buy" anymore; now we're using the word "seize." And we're not talking "failed", either -- we're talking "troubled" businesses with the "potential" to do damage. Seizure is a tool used by a socialist who's either too cheap to buy businesses, or thinks he's consolidated enough power that he doesn't have to explain himself anymore.

Personally, I don't like the idea of giving the president license to seize any business he deems unacceptable.

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Location: California
Joined: 09/06/2008
Posts: 1071
Geithner wants "government regulatory structure".

Winger wrote,

Quote:
Calling names like Communist and Socialist, is juvinile.

I didn't say communist or socialist I said Marxist. The regulation and confiscation of private business by Government is exactly that. The idea is right out of Marx-Engels writings almost a hundred years ago. You used those words not I, however maybe you have a point for once Civet. Maybe they are.

As to name calling being juvenile your the worst offender here so I'm surprised you would even have the gall to howl about it. I called it Marxist. It is Marxist. Get over it. Go read Karl and Friederich sometime and see for yourself.

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