Two Perceptive and Frightening Articles

The Wall Street Journal recently published a report that the Obama Administration refused repayment from banks of TARP money.

Obama Wants to Control the Banks

There's a reason he refuses to accept repayment of TARP money.

By STUART VARNEY APRIL 4, 2009 Wall St Journal (Excerpt)

“I must be naive. I really thought the administration would welcome the return of bank bailout money. Some $340 million in TARP cash flowed back this week from four small banks in Louisiana, New York, Indiana and California. This isn't much when we routinely talk in trillions, but clearly that money has not been wasted or otherwise sunk down Wall Street's black hole. So why no cheering as the cash comes back?

My answer: The government wants to control the banks, just as it now controls GM and Chrysler, and will surely control the health industry in the not-too-distant future. Keeping them TARP-stuffed is the key to control. And for this intensely political president, mere influence is not enough.

The White House wants to tell 'em what to do. Control. Direct. Command.

It is not for nothing that rage has been turned on those wicked financiers. The banks are at the core of the administration's thrust: By managing the money, government can steer the whole economy even more firmly down the left fork in the road.

If the banks are forced to keep TARP cash -- which was often forced on them in the first place -- the Obama team can work its will on the financial system to unprecedented degree. That's what's happening right now…

Think about it: If Rick Wagoner can be fired and compact cars can be mandated, why can't a bank with a vault full of TARP money be told where to lend? And since politics drives this administration, why can't special loans and terms be offered to favored constituents, favored industries, or even favored regions? Our prosperity has never been based on the political allocation of credit -- until now.

Which brings me to the Pay for Performance Act, just passed by the House. This is an outstanding example of class warfare. I'm an Englishman. We invented class warfare, and I know it when I see it. This legislation allows the administration to dictate pay for anyone working in any company that takes a dime of TARP money. This is a whip with which to thrash the unpopular bankers, a tool to advance the Obama administration's goal of controlling the financial system.

After 35 years in America, I never thought I would see this. I still can't quite believe we will sit by as this crisis is used to hand control of our economy over to government. But here we are, on the brink. Clearly, I have been naive.” Wall St Journal

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Those Arrogant Americans

By James Lewis RealClearPolitics April 06, 2009

We have a rock star president who for the first time in American history fired the President of a private corporation, General Motors, then immediately flew to Europe with an entourage of 500 courtiers and a worshipful media, bowed waist-deep to the King of Saudi Arabia, and proceeded to accuse his own country of arrogance.

In France, of all places.

Does anybody else think this guy is shockingly ignorant? I wonder if he has every really talked to a concentration camp survivor, or a Cuban refugee, or a boat person from Vietnam? Or a Soviet dissident. Or a survivor or Mao's purges.

Not to mention families with fallen American soldiers in the graveyards. Yes, he's going to Normandie, but will he apologize for our arrogance there, too? Does he really understand anything beyond the PC history of the world? Or will he just lie in his photo op at the American Cemetery at Normandy?

Ahhh, those arrogant Americans. First they rebel against King George III and all the crowned heads of Europe. Then they welcome tens of millions of poor and persecuted people from the Old World. Then they fail to bow down to Europe's greatest figures -- from Napoleon and Otto von Bismarck to the Kaiser, Hitler and Stalin. Then they fight a civil war, losing half a million people to liberate black people in America. Then they diss the man the BBC considers to be the greatest philosopher ever, one Karl Marx, whose followers killed 100 million innocents in the 20th century. And then, to top it all off, they liberate both the Western half of Europe (in 1946) and the Eastern half (in 1989).

What arrogance these Americans have. Either that, or a very, very -- no, stunningly -- ignorant man was just elected president. What kind of man has such an obsessive need to put down his own country? Especially given our real history? Has he ever read an honest history book?