Tony Campbell cries foul about the Obama administration's plan to expand its power to seize firms under the guise that their collapse would damage the broader economy. Right now, it only has power to seize banks, but wants to also seize large insurers, investment firms and hedge funds. The black moderate Republican commentator sees shades of Stalin and communism: "Several people on the right have accused the Obama Administration as having socialist tendencies and on some levels they are correct. However, it seems odd that no one has pointed out that this move is nothing short of a shift towards direct centralized governmental control of the financial private sector… in some corners, this would be called 'Communism'.
He adds: "We should be very careful that we don’t let fear drive policy to the point where we wake up and government is left with unbridled control of the financial markets. The greed of a few, and the fears of many, may accomplish what 45 years of the Cold War was not able to achieve - transform private Capitalism into state Communism."
Booker Rising response: This is what happens when one doesn't allow companies to bear the full repercussions of their actions, and thus get punished by the free market. Instead, government doles out corporate welfare and then does a gangsta move reminiscent of Stalin. No company is too big to fail, if they are making bad decisions. Others will emerge to replace them.
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