In a recent debate with Ralph Nader, Barney Frank said the following:
“…We’re in there fighting these things. The right wing took control of government and ruined it. They gave it a bad reputation. Now that we are trying at every front to increase the role of government in the regulatory area, we run into this public opinion that says, hey, those are the guys who screwed up Katrina. So the frustration is they’re benefiting from their own incompetence”.
Then he went on to say….
“There’s going to be a systematic risk council. The systematic risk council will have the duty of monitoring to see in any institution or any pattern is causing a risk. If it is they will step in well before we’re faced with this kind of collapse. They would have said to AIG, you may not sell any more credit to false swaps, we are going to use the bankruptcy authority of the Constitution to put these — this regulatory body in charge of putting these people out of their misery. When the right wing started talking about death panels, they were right for the wrong reason. We are going to have death panels, but they’re going to be death panels that are going to put to death these institutions before they can cause us problems, not old people”.
The arrogance of this Congressman and his cohorts is unbelievable! Watch the video below:
Where are we headed as a country when the government thinks that they need to create a systemic risk council so they can run rough shod over businesses that step out of line in their eyes? What happened to businesses being able to succeed or fail on their own? What happened to good old fashioned bankruptcy? What happened to the free market capitalism on which our economy and our country were built?
To quote Rush Limbaugh, “I wonder how many regulators Barney whacked trying to stop what was going on in the subprime mortgage stuff. By the way, these guys want to try to take risk out of everything. I made the point last week, this is a nation built on risk-taking. That’s what entrepreneurism is. … You know, I was thinking, Barney Frank is worse, ladies and gentlemen, than any executive who has ever been a crook in the private sector. Barney Frank uses his position and the law to promote the destruction of the housing market and all that goes with it. Then he blocked efforts to correct what he and others of his ilk had unleashed”.
If we are going to save our country and our national sovereignty, we must save our economy first! We can not save the economy if the government is going to continue to meddle in the free market. Nationalization of the banks and the auto companies coupled a manufacturing czar, a pay czar, cap and tax legislation, a meddling EPA and a pro union administration spells doom for a meaningful recovery.
As Americans we need to face the facts. The administration’s economic policy which punishes success and capitalism is killing the economy. Unemployment continues to rise and new jobs are not being created. The credit market for business capitalization remains mostly frozen. Regional banks failures have already reached 100 this year. Home foreclosures continue to rise and our country’s credit rating is in decline. The handwriting is on the wall, if we don’t do something soon we will be facing an economic crash of epic proportions, followed by hyper-inflation.
The G20, the IMF and the UN are waiting, watching and licking their chops. If our economy fails we lose our position as leaders of the free world. The dollar will no longer be the premier currency and ultimately it will compromise our national sovereignty.
It is time to take action. It is time to tell the government to stop meddling in business and end their excessive spending. Government does not create wealth it, consumes it. We do not need contrived shovel ready projects or non value added government jobs. It is time to return to our roots, to what made us great; small government, free market capitalism and American ingenuity. We need to rebuild our manufacturing base and manufacture durable goods which will create jobs. We need to lower taxes to stimulate investment to get the economy moving.
It is time to contact your elected representatives and tell them: No more spending and No more meddling! The time is now – Restore the Republic, Restore the American Dream and Reject the Economic Policies of the Socialist Left!
“…and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people’s money. It’s quite a characteristic of them.” – Prime Minister Thatcher
“The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government — lest it come to dominate our lives and interests.” — Patrick Henry