February 1, 2010

The International Noose Tightens

Justin Katz

How long, do you suppose, until history encounters its first global totalitarian regime?

U.S. Rep. Barney Frank said a bank tax and other tough new measures would be introduced by the individual countries but in a coordinated way to prevent bankers from moving from one place to another to escape regulation.

"Lenin might have been able to put socialism in one country, but tough bank regulation in one country ain't going to happen because we will lose people," said Frank, a Massachusetts Democrat who heads the U.S. House Financial Services Committee, a key spot for any American decisions.

Expect "coordination" to expand in the authority that it entails and in the issues that it covers. This really is the sort of thing against which the United States should stand, on the global scene. Sadly, our current regime is likely a driving force behind it.

That also implies the possibility that the rest of the world will allow us to go first so as to drive our businesses away and then curtail their own enthusiasm.

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I find it interesting that Frank's first thought would be Lenin.

Freudian? Deeply.

Posted by: BobN at February 1, 2010 2:32 PM

One of the most frequent arguments statists make in defense of higher taxes and stricter regulations is that it is (supposedly) a person or business's free choice to live in any given place, and thus they implicitly consent to any and all rules in that area and such rules are necessarily fair to enforce against them.

Interesting that now they want to make it more difficult or impossible for people to take their own advice to "leave if you don't like it." In the end, it's all about control.

Posted by: Dan at February 1, 2010 3:24 PM

The persons worried about "world government" or "one world government" -- often derided as the "black helicopter crowd" -- suddenly don't seem so crazy, now do they?

Of course in reality their fears are as unfounded as fears that the federal government might take over banks, auto companies, student loan and housing financiers.

Yeah, it could never happen.

Posted by: Ragin' Rhode Islander at February 1, 2010 3:27 PM

New world order? You guys crack me up. Would that you righties paid any attention to the WTO and World Bank, who've been undermining state sovereignty in poor nations for decades. But try to rein in the bankers? Watch out! Let the hysteria begin!

Posted by: Russ at February 2, 2010 9:03 AM
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