Obama to propose strict new regulation of financial industry
Michael Sohn / Associated Press
President Obama is expected to unveil a plan that would give the government new powers to seize key companies whose failure jeopardizes the financial system.
The plan would give the government new powers to seize key companies whose failure jeopardizes the financial system, as well as creation of a watchdog agency to look out for consumers’ interests.

http://www.latimes.com/business/la-fi-financial-regs16-2009jun16,0,4262249.story

OK – here’s my problem. I don’t want the government to have the ability to seize the companies that are too big to fail.

I don’t want there TO BE any companies that are too big to fail in the first place!!!!

BREAK ‘EM UP! We did it before and we should do it again. Separate the banks from securities. The same with insurance companies.

Here’s the thing. We live in a society where money = power. The reverse is also true. No one possessing a surfeit of either will be happy losing any. They will fight with their money and/or power.

It’s like a restrictive club. In order to force such a club to let someone else in, you need more money or power to force the issue.

But, since Washington and the media are also tied in, there’s no-one in a position of real leverage over those in the club. If anything is to change, it will be a long, hard slog IMO.

We don’t need regulators reading toe tags in the morgue.

Thanks again LD!

In a more main street but telling level, a very good friend of mine just pulled out all of her cash from her accounts (6 figures) and put it in a safe because she “does not trust those bankers anymore”. Irrational reasoning maybe, but very telling from a regular Jane.

Wall Street and the Financial Industry are in complete denial and disconect from Main street and the WH is operating on Chicago bullying methods. But the rest of the country is not like Chicago and it is waking up slowly but surely to the urgency of getting rid of the Beast.

I do not know how it will be done and how long it will take, but there is no such thing as a point of no return. In my lifetime I have seen the construction of the Berlin Wall and its destruction. Ultimately, the people’s voice always prevails.

I agree with you. The public is often like blind sheep being led to the slaughter.

As I mentioned in the interview, I do think that is the reason why blogs are increasing in popularity.

Is this for real?

From DRUDGE:

ABC TURNS PROGRAMMING OVER TO OBAMA; NEWS TO BE ANCHORED FROM INSIDE WHITE HOUSE

Great interview!!!

I was so looking forward to hearing the show sunday night, but my dog went and at a mushroom that gave it a bit of a colon cleansing. She’s okay now and we are doing lawn patrol for any new mushrooms. But was very disappointed to miss the show. So made my day to have the audio link and transcript. Some how reading it has more impact.

http://pajamasmedia.com/instapundit/80172/