The White House has decided that private companies deemed "too big to fail" need to be policed by a supercop, and the White House is recommending the Federal Reserve play the role.

Last week, Obama's economic advisors had a meeting with representatives from banks, hedge funds and financial groups. These groups had suggested to the president that if the government insisted on regulating industries, that the task should be divided among various regulators. But that doesn't seem to be what the White House is going for. It wants a single independent regulator to monitor system-wide risk, and that one regulator "should be given better visibility into all institutions that pose a risk to the financial system, regardless of what business they are in."

So we aren't just talking the financial industry here. We are talking about any company that the government feels is too big to fail and would pose a risk to the financial system. Who in Congress has been chosen to lead the task for drafting legislation for such a supercop?? None other than slobbering Barney Frank.

This legislation, according to tax cheat Tim Geithner will include an "aggressive" package of reforms for the financial industry. That includes a fundamental overhaul of how the industry pays its senior executives. In other words, those evil bonuses will be a thing of the past.

This is a massive proposed increase in the control privately-owned businesses by government. But I don't have to tell you that, do I? What you may not know, however, is what you call this type of economic system --- a system where business is owned privately but owned by the government. The word would be Fascism.

Slobbering Barney Frank has never held a private sector job in his life. That might explain why this man holds the private sector in such disdain. Just two weeks ago, he was up there in Washington spitting nails about these AIG bonuses and how the government needed to "recover" this money. But people finally came to their senses and the bill quietly died.

But the latest move from the House Financial Services Committee .. which is led by Sylvester the Chairman has approved legislation that could be even more outrageous than the 90% tax on bailout bonuses. This new legislation is called the "Pay for Performance Act of 2009." Pay for performance? Since when has the government been one to pay anyone based on level of performance? If Barney is so hot about paying for performance, why not apply that to teachers in government schools? For right now Barney's legislation would impose government control on the pay of all employees at companies that have received bailout money from the government. The controls would be retroactive. That would mean that our government could walk into one of these workplaces, pick out one employee, and tell him that he has to "give back" some of the money he has already received.

So tax cheat Timothy Geithner - a government hack - will be determining the pay of thousands of employees of private American companies. Not only that, but the government will come up with the way in which to evaluate employee performance. And what is the excuse, according to the bill? In order to "prohibit unreasonable and excessive compensation and compensation not based on performance standards."

OK .. I know what you're saying. You think that Barney is serious when he says it would only be limited to companies receiving bailout funds. You may have been born at night, but was it last night? You really don't see that Barney and Friends would soon be looking for a way to extend these compensation controls to the rest of our economy? Look ... they have already put a floor on compensation with minimum wage laws. Why should they not believe they can install a ceiling?

Our Treasury Secretary, tax cheat Tim Geithner wants to make sure that you know that government is going to be the answer to our financial problems. Not the market. Not tax cuts or small business development. Not Wall Street. None of it. Government is the answer.

On ABC's "This Week," Giethner was trying to defend his approach to fixing our economic problems. He said, "The market will not solve this. And the great risk for us is we do too little, not that we do too much." Yup ... forget the market, put hour reliance and faith in government. The same government, by the way, that brought us Social Security.

On "Meet the Press" he also said that people, as a result of the recession, will be "living within their means more, which is helpful." And that when this crisis is over, "people are going to care less about what they make, more about what they do. What they achieve is what they make. And that will help make this country stronger." Oh, I see. We're supposed to be happy with a sense of achievement. Our achievements don't necessarily have to be rewarded by the marketplace. Someone please straighten me out .. but this sounds just a wee bit Marxist to me. What am I missing here? There's a lot of "from each according to their ability" here ....

The ObamaBots really like this line, don't they? Rambo E. was the first one to come out with it: "you never let a good crisis go to waste." We've actually heard those words from the Leader of the Free World as well. Yesterday it was the tax cheat in chief ... Treasury Secretary Tim Geithner. He was testifying before some group of self-important legislators in Washington when he uttered the line again, though in slightly different form. Said Geithner: "We have a moment of opportunity here, and we don't want to waste this opportunity." What was he talking about? Regulation. Getting the government more and more involved in regulating the private sector.

I know you hate it when I bring this up, but how else are you going to learn? What sort of economic system do you call it when industry, businesses and financial institutions are privately owned but government controlled? The word would be "fascist." Never let a good learning opportunity go to waste.

... and the change you asked for and got is an executive branch that covets the power to seize private businesses when it sees fit. HTCWICOTTD* Tim Geithner wants Congress to recognize his regulatory powers to seize non-bank financial companies. And what is Barack Obama's response? I hope "it doesn't take too long" to convince Congress to approve this new authority.

This is an unprecedented amount of power being requested by the Obama administration. In fact, I wouldn't even say requested so much as demanded and expected. That government should have this level of power and influence in your lives, your businesses, your money, your property and your freedom. This is what Democrats have been wanting. And with Harry Reid and Nancy Pelosi by his side, Barack Obama and Tim Geithner may very well succeed.

Thanks for the change!

Yesterday we were supposed to get the grand financial plan from Obama's tax-cheating whiz-kid Tim Geithner. And what we got was a bunch of grandstanding, but not a lot of details. Here's one good line: "We're will have to try things we've never tried before." Wait! Isn't that what brung us to this hideous dance with all these ugly partners in the first place?

Let's see ... we'll start out by making millions of home loans to people who have no credit, no steady job history, and certainly not enough income to pay the loan back. We'll make these loans to people who should be renters. We've never tried that before on such a large scale .. let's see how that works out for us.

Here's something else we haven't tried before. Let's pass a law - we'll call it the
Community Reinvestment Act. This will be a really nifty way for the government to interfere in the free marketplace. We'll set up some urban gangs who can make sure local banks make bad loans to favored minority groups .. or they'll get spanked by the federal government. Let's see how THAT one works out for us.

Once we have those two programs we haven't tried before in place, we'll keep interest rates artificially and illogically low for far too long. Yeah, let's follow this monetary policy that virtually every sane economist not working for the government thinks is a grave mistake because voters like low interest rates. That ought to work out really well.

So now our tax-cheat Treasury secretary wants to try some more things we haven't tried before? Well, you may think that this message brings great hope, but it would seem that the stock market didn't like that one bit.

If you want to see just how this gang of leftist statists want to change this country some new details can be found here.

The reason we don't have more details has to be because they really don't know how the hell they're going to pull this off. It's just going to be stuff we haven't tried before. No chance for letting people work, thrive and then spend their own money.