Get ready for a bigger, badder government

October 11, 8:48 AMCivil Liberties ExaminerJ.D. Tuccille

Previous Next

2 comments Print Email RSS Subscribe

Subscribe

Get alerts when there is a new article from the Civil Liberties Examiner. Read Examiner.com's terms of use.

Email Address   Include other special offers from Examiner.com Terms of Use

More nationalizations to come? That's what the news seems to suggest. But increased government control over one sector of life always leads to growing intrusions in other areas. You can't metastasize the state and expect the cancer to stay confined to one organ. Power gained in one area of life can be used as a lever -- or a bludgeon -- to impose control in other areas.

From CNBC:

The longer the credit crisis sends a chill through the global economy, the more pressure the US Treasury will be under to do what it has long resisted: injecting capital directly into the beleaguered banking system.

Proponents insist government purchases of stock in troubled banks more directly addresses the central challenge of encouraging new bank lending and thawing out credit markets.

Critics say such a move would effectively nationalize troubled banks. But advocates say that the government could take relatively small stakes—and buy non-voting shares—so there would be minimal federal interference.

Government dominance of the financial sector would give politiicians and bureaucrats unprecedented control over the overall economy, with the power to steer capital to preferred companies and industries and away from officially disfavored uses. You know, in that brilliant way that Fannie Mae and Freddie Mac were so thoroughly politicized. That wasn't a problem, was it?

And that power to grant financial favor to people and businesses that please the state and deny it to those who don't, well, I'm sure that would never be abused. Right. I wonder how willing media outlets will be to publish criticism of government policy when they're about to apply to a state-dominated bank for a line of credit.

Am I the only one who notices that both of our major parties now favor socialist economic policies, with the extensive intrusions into everyday life that comes with control over the flow of money?

Oh, but one party favors banning guns and the other party favors banning abortions. So we really do still have a choice.

If only ... if only there were another option.

Contact J.D.: civilliberties (at) tuccille.com