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Dick Morris: Obama’s Leap to Socialism

Posted by Brutus | Posted in Obama | Posted on 26-04-2009

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Dick Morris has an article on his site about Obama’s leap to socialism and why Obama wants to force banks to keep TARP money. It’s worth the read if you haven’t done so already.

Here’s a nice snippet on Obama’s plan to convert the preferred shares the government holds in banks to common stock:

This seemingly insignificant change is momentous. It means that the federal government will control all of the major banks and financial institutions in the nation. It means socialism. . .. Now, by changing this fundamental element of the TARP plan, Obama will give Washington a voting majority among the common stockholders of these banks and other financial institutions. The almost 500 companies receiving TARP money will be, in effect, run by Washington.

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