Re Formed

30Mar10

Is the Obama financial reform bill out of control? Dick Morris says it gives power to the Treasury Secretary that Fidel Castro doesn’t have in Cuba.

What I’m concerned about is a provision that is not controversial in the bill. It’s not what they’re talking about. That it’s pure socialism in the United States. It gives the Treasury secretary the power — in his sole discretion, with no judicial review, and no objective standards — the right to seize any financial business he wants simply because he thinks it’s too big to fail and that it’s in danger of failing.

And then the Treasury secretary can fire the board of directors, fire the management, sell off the company, and wipe out shareholder equity.



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