Show me where in the Constitution that gives the federal government (or state government) control over private entities like mortgage-finance firms? It has the right because the government used your tax funds, instead of paying its own debts to bail out firms like Fannie Mae and Freddie Mac – a government whose constitutional task is to operate and maintain a national postal system that has been failing for years. A government whose Federal Reserve authorizes printing money with no substance (gold/silver) to back it up. Talk about currency counterfeit. The post office financial problems were known in the summer of 2012 – but neither presidential candidate discussed the problem and what to do with it except discontinue Saturday mail delivery. The solution suggested by the Obama director of Office of Management and Budget: privatize the Postal Service. Yet here is that same inefficient government controlling our lives and businesses like Fannie Mae that should have been told to file bankruptcy instead of sucking up tax funds that big government never has enough of.
By the way, Watt is pressing for better access to mortgage loans for minority and low-income consumers. That is what put the mortgage finance market in financial trouble in the first place – the interference of government by the Clinton administration in a flurry of controlling regulations in return for a promised bailout if big business failed. The philosophy of “too big to fail” has proven to be just another government induced myth.
My father used to say if you want to know where the real power is, follow the money. This was back in the day when women had a choice to be in charge of the household or seek a professional career. My father provided the income and mother was in charge of the household, which included the checkbook.
National socialism promotes the government control of private sector economy. The Nazi government of Germany of the 1930s-1940s was a national socialist worker’s party that controlled Germany’s economy and business.
It does not matter, Democrat or Republican — since the Federal Reserve was put in place, government has gradually been taking control which is not within its constitutional power with the help of people who vote for politicians who offer what the private sector can provide, or to put it another way — collectivism versus individualism.
Our nation did not become great because of big government, it became great because we had a constitutional republic that afforded opportunities (and failure) of freedom of choice, property rights, and other rights and liberties, inalienable rights, established by natural law not by governments.
Founders of the United States may have worn white wigs as was the style in those days and three-cornered hats — but they were men of wisdom and foresight who should remain to be praised and appreciative citizens should honor them by safeguarding and maintaining what they worked so hard to achieve, some dying to protect it.