Government Intervention Into Business. Once It Starts, It Can’t Stop
I can’t say I am surprised.
Strong banks will be allowed to repay bail-out funds they received from the US government but only if such a move passes a test to determine whether it is in the national economic interest, a senior administration official has told the Financial Times.
President Barack Obama will soon turn his attention to high credit-card rates, giving a potential boost to congressional efforts to put limits on the industry.
Is this really what we want our government to be doing? If we are not chumming up with our enemies, we are placing business under the thumb of government. Sounds like Socialism to me. If you do not like the rates you are paying for your credit card, simply find another or better yet, stop using them. We do not need the government to solve this issue for us. Take some responsibility folks and deal with this yourself. Government intervention can only make this problem worse. Just look at their track record. Don’t we all want the banks to pay back the TARP money? Of course we do, but now the government is placing conditions on this. Sure the reasons sound good, but I believe that government has a problem giving up power, which is more the reason here than passing stress tests. Who creates these tests?
If you were laughing at the Tea Parties last week, you may not be now. It is time to demand less government in our lives. We do not need to be looked after by politicians whose only interest is to expand their power base.