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There’s that “S” word again.

Dick Morris comments on what seems to be the Obama plan to nationalize most of the banks.

oldbankPresident Obama showed his hand this week when The New York Times wrote that he is considering converting the stock the government owns in our country’s banks from preferred stock, which it now holds, to common stock.

This seemingly insignificant change is momentous. It means that the federal government will control all of the major banks and financial institutions in the nation. It means socialism.

I didn’t say it!!! Dickie did!!! Here’s a bit more of his interesting, yet disturbing post:

With bank profits up and financial institutions trying to give back their money, there is no need for the conversion of the government stock from preferred to common — except to advance the political socialist agenda of this administration.

Meanwhile, to keep its leverage over the economy intact, the Obama administration is refusing to let banks and other companies give back the TARP money until they pass a financial “stress test.” Nominally, the government justifies this procedure by saying that it does not want companies to become fully private prematurely and then need more help later on. But don’t believe it. They want to keep the TARP money in the banks so they can have a reason and rationale to control them.

Between his approach to foreign policy and the way he’s approaching the economy, more and more people are recognizing this president for what he is. And are becoming less afraid to say it.

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