President Obama showed his hand this week when the NY Times wrote that he is considering converting the stock the government owns in banks from preferred stock which it now holds to common stock.
The seeming insignificant change is momentous. It means that the federal government will control all of the major banks and financial institutions. It means Socialism.
The NY Times dutifully dressed up the Obama plan as a way to avoid asking Congress for more money for failing banks but the implications of the proposal are obvious for anyone who cares to look.
Rest here from The Hill by Dick Morris
