Diary

Obama's Next Big Step Towards Socialism

Maybe I’m just not as current and up to the minute as I should be, but I had not heard of this (no, not just the fact that he is a socialist) until my wife sent this article from The Hill from a couple days ago.  It is the duty of every U.S. citizen to READ THIS.  If you don’t feel like reading the whole thing (which you should) here are some highlights – 

President Obama showed his hand this week when The New York Times wrote that he is considering converting the stock the government owns in our country’s banks from preferred stock, which it now holds, 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.

The Times dutifully dressed up the Obama plan as a way to avoid asking Congress for more money for failing banks. But the implications of the proposal are obvious to anyone who cares to look….

…The almost 500 companies receiving TARP money will be, in effect, run by Washington.

And whoever controls the banks controls the credit and, therefore, the economy. That’s called socialism.

With bank profits up and financial institutions trying to give back their money, there is no need for the conversion of the government stock from preferred to common — except to advance the political socialist agenda of this administration

I suppose this should come as no surprise to those of us who have recognized Obama for what he is from Day 1 (i.e. a socialist demagogue hell bent on radically changing this wonderful nation) but it still cuts to the bone to see this happening right before our eyes.  Perhaps what hurts more is the seeming indifference of FAR too many of our countrymen who, like their president, shut their eyes and hope for the best.

I don’t know what can be done to stop all this.  It seems like there’s really nothing we can do that can stop this socialist administration until 2010 at the earliest.  Who can say, maybe the American people will realize what is happening and take action.  When dedicated patriots decide to take a stand, nothing is impossible.