When Sen. Dick Durbin stood up in the Senate chamber and told the American public not to do business with a bank he didn’t like, he threatened the free market system. When the President of the United States confirmed and added to the senator’s condemnation, the free market system ceased to exist.
Free is free. Half free is not free. What we have is coercive capitalism, a form of fascism where private ownership of the means of production of goods and services is allowed, but where management is not free to follow the dictates of the market. This, along with crony capitalism has been described by some as the new face of socialism in America.
John Hinderaker at Power Line has written an excellent piece that begins “Nice Bank You Have Here…, a shame if anything should happen to it… The Democrats took gangster government to a new level today…” It’s an excellent post and falls into the category of required reading. Don’t miss it.
Socialist leaders have long realized the challenge of establishing the Marxist form of socialism in a democracy like the United States is an insurmountable one. A strong and prosperous middle class would never willingly accept a government that would appropriate ownership of private enterprise. The alternatives are to employ force with a violent revolution (a very bad choice) or to allow private ownership but control it.
Control comes in many forms. Durbin-Obama coercion is just one of them. Other means of control include appointing czars to oversee various industries, misuse of executive orders, outright flaunting of established law and the passing of bills that are vague, thereby leaving the specifics to be set by the whims of the bureaucracy as dictated from above. Go along get along becomes a near necessity. Those who do more than go along, get along even better. From Solyndra to GE, this is the new face of socialism in America.