In Italy, they called it fascism

April 6, 10:05 AMLibertarian ExaminerTrevor Bothwell

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Unelected bureaucrat Timmy Geithner says the Obama adminstration will "do what's necessary" to fix the banking industry, even if that means using government force to oust private banksters.

“If in the future, banks need exceptional assistance in order to get through this, then we will make sure that assistance comes,” while ensuring taxpayers are protected, Geithner said yesterday in an interview on the CBS “Face the Nation” program. “Where that requires a change in management and the board, then we will do that.”

America, are you honestly going to sit idly by as your government completely co-opts private industry and eradicates what's left of the economic model that's produced what little prosperity you're left with today?

Laughably, Obama called the recent G20 summit "historic" because it resulted in world leaders calling for "tougher oversight of hedge funds, executive pay, credit-rating firms and derivatives trading."

Newsflash for the American Mussolini: There is nothing "historic" nor appealing about fascism, no matter how often you lecture the American public or leaders of corporations who find themselves in the positions they do today in large part due to already-stringent federal regulations and coercive public-private "partnerships."

I'll defer in closing to Vin Suprynowicz, who writes in response to Obama's decision to commandeer the auto industry:

It appears the president and his men have entirely lost track of – if they ever really grasped – the fact that in America, major industries are not run by the government, and for good reason.

This “new” system – in which private capitalists technically maintain title to their enterprises, but really operate under close, monopoly government supervision – was tried in Italy starting in the 1920s (where Mussolini’s system was called “Fascism”), and in Germany starting in the 1930s (where they called the plan “National Socialism.”)

This is not “name-calling.” These terms describe a certain type of state-run economic system, to which the Obama administration – in office a mere 60 days – is now embarked with a vengeance on converting this nation.

It’s a version of central planning, and it can’t work. No one bureaucrat can know what everything should cost, which technological innovations will succeed, and what consumers will buy.