Sunday, September 27, 2009

More Government Takeover of Credit and Transportation

Now that you have seen the Ten Planks of the Communist Manifesto and how we have pretty much adopted all of them, think about what George W. Bush, Barack Obama and the congress have done in the last year.

Massive bailouts and government takeovers including:
1. Bear Sterns 2008, $30 billion
2. Fannie Mae, Freddie Mac 2008, $400 billion
3. American International Group (A.I.G.) 2008, $180 billion
4. Auto Industry 2008, $630 billion
5. Troubled Asset Relief 2008, $700 billion
6. Citigroup 2008, $280 billion
7. Bank of America 2009, $142 billion

We see that we taxpayers have bailed out banks, mortgage companies and auto makers. There are rumblings that the government will take over student loans as well. Obama wants to nationalize health care. Do we want to be beholden to the government for personal loans, student loans, car loans, mortgages, and our health care? Here we see more centralization of credit in the hands of the state (Plank #5), and more government takeover of the transportation sector (Plank #6). I expect to see more of this in the Obama administration.

Statistics from ProPublica (Creative Commons License)
ProPublica is an independent, non-profit newsroom that produces investigative journalism in the public interest. We strive to foster change through exposing exploitation of the weak by the strong and the failures of those with power to vindicate the trust placed in them

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