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Will Obama socialize the financial sector?

October 7th, 2008, 12:44 pm · 5 Comments · posted by Steven Greenhut

I’m getting a lot of overheated emails from Republicans who are insisting that Barack Obama is so far to the Left that his election would endanger the republic. I see their point, but it’s hard to get too worried after what’s happened in the last week. The Republican president, with bipartisan support, and the support of Obama and McCain, voted for a blank check bailout that vests czar-like power in one government official. In other words, the current leadership has nationalized the financial sector. Nothing the lefty Obama can do will top that massive socialization project.

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Posted in: Financial crisis
 
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 5 Comments

  • muckdog says:
    October 7, 2008 at 3:59 pm

    I don’t know about the financial sector, but Obama wants the government to intervene in the health sector just the way it has in the real estate sector, and create “subprime health care” for everyone!

    The more the government intervenes, the worse things get. I think the best thing for the markets and financial sector at this point is for all the politicians in Washington DC to go on Christmas break NOW. Come back in January.

  • Steven Greenhut says:
    October 7, 2008 at 4:12 pm

    You are right. My point, though, is that it’s hard to get any more interventions than we already are getting. Republicans rightly decry the results of an Obama administration, but they are leading the charge for full socialization of the economy. It’s hard to care who wins.

  • Gee Dub says:
    October 7, 2008 at 5:50 pm

    Gee, I figured the Republicans would at least wait until 6am on Nov. 5th to start criticizing the “Obama Administration”. I guess I was wrong. Has W been replaced by Obama already? Or am I hallucinating? Republican Socialism???

    Anybody else wonder if we’ll even make it to noon on Jan. 20th?

  • Josh says:
    October 7, 2008 at 10:47 pm

    I hear that Obama wants to rewrite all those subprime mortgages for people, too, and reduce how much they owe while letting them stay in their homes.

    Oh, wait — that was McCain who said HE was going to do that.

  • over it says:
    October 8, 2008 at 10:16 am

    We’re no longer a capitalistic society. If you screw up, the government will save you!