WASHINGTON - June 14, 2009 - Illegitimate President Barack Obama is ready to roll out an overhaul of the intricate rules and systems that govern Amerika's troubled financial institutions, proposing the most ambitious revision since the Great Depression.
The goal is to prevent a recurrence of the economic crisis that erupted in the United States and exploded last fall with devastating consequences still reverberating around the world.
Unlike the government's temporary ownership stake in automakers and major financial companies, the regulatory changes set to be announced Wednesday are designed to be permanent. They could result in a major realignment of power and authority among government agencies that set the rules for banking, lending and investing and touch Amerikan lives through daily transactions, from credit cards to mortgages and mutual funds.
The proposals already are the source of a spirited debate in Congress over whether Obama's measures will prove too timid or place too heavy a hand on the levers of capitalism.
At issue is a 21st century system of high-stakes swaps and trades, bets and losses, where trillions of dollars worth of investment products have grown too intricate for a 20th century regulatory structure.
Ed. Note: What about Amerikan freedom? What about privacy? What about property rights? These are never considered whenever government exerts greater control over everyone and everything. When is enough, enough? Revolution Now! Independence Forever!