I realize the economy is bad, and times are tough, but I could hardly believe what I heard on the radio yesterday. The snippet was supposedly of Tim Geithner saying the Government needed the authority to seize control of firms that were failing.

Wow. I can paint quite a slippery slope doomsday argument with that one.

Below are some links to the actual story. I don't have the transcript to see who exactly said what, but basically, Treasury Secretary Tim Geithner and Federal Reserve Board Chairman Ben Bernanke went before Congress (during the AIG hearing) looking for more authority to sweep in and take over companies like AIG before they threaten our economy.

After doing some research, I can kinda see where they are coming from. ... but are we opening a pandora's box with these kinds of policies? I've got visions of Proopaganda City floating in my head...

I'd be curious to know the thoughts of those who were informed, working adults through the 70s and 80s economic hits (Mom, Dad)...?

Some news reports for you on this topic:

Financial Times
Wall Street Journal
USA Today
New York Times
US News