U.S. Collective Dictatorship Enlarges

Michael Rozeff reports:

The President of the Federal Reserve Bank of New York, Timothy Geithner, has been appointed as the new Secretary of the Treasury. Geithner is a government man through and through. He believes in intervention and bailouts. His name comes up again and again in accounts of the various programs. There could not be much more of an incestuous relation between Treasury and Fed than this one, short of Bernanke becoming chief teller of the Fed for the Government, which he already appears to be.

The Treasury has taken preferred stock positions in the largest banks in America. This is part and parcel of Emergency Economic Stabilization Act of 2008, which is openly dictatorial.

We are entering upon a sequence of events that will, in the end, transform the American economy even more than now into a slow-growth, no-growth, inflationary, regulated, stalled, and inefficient economy.

You'll want to read this one.