Obama Seeks Power To Seize Financial Companies

From the L.A. Times comes this story of a new proposal from the Administration. President Obama is seeking to give the government the ability to seize companies that the government feels are failing, and whose failure might hurt the economy. In other words, if you are a financial company that the government feels is going to fail, and the government decides that your failure might adversely affect the economy, then the government can come in and take over your company.

Does anyone besides me find this a little scary? Or a lot scary?

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