Mar 24 2009
The political class has a serious ego problem. To them all other lines of work and business are trivial and anyone can do them. It is their general 3rd grade understanding of things around them that allows them this special insight. If a job or a business took years to understand, a life time to master, and generations to perfect then politicians and their underlings would not assume they can simply jump in and do better.
In the mind of Team Obama all things are so simplistic they think they can control the entire national economy – no problem! While not even fully making the leap from managing a campaign to running the executive branch of the nation, team Obama thinks it can also take control of our nation’s businesses:
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.
The government at present has the authority to seize only banks.
Giving the Treasury secretary authority over a broader range of companies would mark a significant shift from the existing model of financial regulation, which relies on independent agencies that are shielded from the political process. The Treasury secretary, a member of the president’s Cabinet, would exercise the new powers in consultation with the White House, the Federal Reserve and other regulators, according to the document.
The administration plans to send legislation to Capitol Hill this week. Sources cautioned that the details, including the Treasury’s role, are still in flux.
This is how dictatorships run. It all seems so simple, but the fact is to control anything like this requires making it simple. If we, as we do now, rely on the intentions and creativity of We The People to drive the economy and our society forward free of control, then the complex interactions of 300 million thriving humans createÂ spontaneousÂ an unforeseen breakthroughs. It is the churn of randomÂ innovationÂ at work.
But to go to a command economy where a handful decide salaries, compensation, priorities you have to stifle that mass of human creativity and bring it way, way down. This is why dictatorships always fail next to free markets.
President Obama is a running disaster. He and his liberal friends are going to keep pushing the envelope of socialist control until things break (which they probably already are doing). They have no clue what they are into, or how naive they are to the challenges. And they have no idea how big a backlash can erupt from this nation when its people are pushed too far by too many freedoms being taken away.
DC is heading towards a harsh lesson: they are the servants of the people, not the other way around.