Barney Frank, the shameless state socialist/fascist
Posted on September 29th, 2008 by bile Tags: Barney Frank, Citi Group, communism, Congress, fascism, FDIC, Federal Reserve System, House Financial Services, JP Morgan Chase, socialism, state communism, state socialism, United States, Wachovia, Washington Mutual“This is the first time in the history of United States that anything has been done by Congress to curtail excessive CEO compensation,” said House Financial Services Chairman Barney Frank, D-Mass, on Sunday. “It’s not everything we’d like, but it’s a very good beginning.”
“A very good beginning.”? They regulate the hell out of the corporations which they help artificially inflate by supporting the Federal Reserve System. Effectively controlling a significant portion of their business. Now they are nationalizing components of them or creating sweetheart deals for their friends in other firms by taking over a failing company instead of letting them work through bankruptcy. Allowing the likes of Citi Group and JP Morgan Chase to purchase assets deemed nearly worthless by the FDIC. Now Frank is bragging about how they have a foot in the door to controlling salaries of CEOs. If that’s the beginning the end is little better than complete state socialism/communism or the more likely fascism.
Is he ignorant or malicious? I hope the former. Perhaps than he could be convinced to read F.A. Hayek’s The Road to Serfdom.
