"Democracy can only flourish, as your founding fathers realized, when political leaders and those whom they represent are guided by truth and bring the wisdom born of firm moral principle to decisions affecting the life and future of the nation,"

Pope Benedict XVI, United States Mass At The Nationals Park Stadium, April 17, 2008

March 23, 2009

Obama Calls For More Government Control

WASHINGTON (AP) -- President Barack Obama seeks new powers that would allow his administration to seize troubled companies like the insurer AIG -- and take ownership of their toxic assets -- if their collapse would threaten the financial system.

Obama said Wednesday his administration will soon propose new financial industry oversight that includes a "resolution authority" that would have powers similar to those of the Federal Deposit Insurance Corp., which can seize control of banks, take over their bad assets and sell the good ones to competitors.

Full Story: http://www.washingtontimes.com/news/2009/mar/19/obama-seeks-financial-seizure-powers/

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