On Tuesday I wrote here that Sec. Timmy Geithner, appeared before Congress and pleaded for expanded powers to confiscate private businesses.
When questioned by Rep. Michele Bachmann, R-MN asking
Geithner to point out the Constitutional Authority which has allowed him to undertake the actions he has taken, Geithner fumbled around for an answer.
Today the Treasury Secretary unveiled his visions for a Regulatory Czar saying that capitalism has "failed in basic fundamental ways."
Rep. Don Manzullo, R-IL told Geithner, "You realize how radical your proposal is?"
Geithner denied that giving the Treasury the power to confiscate private companies was radical.
More here from ABC News
