Wachovia Buy Out Battle

If you wanted to see the new powers of the socialist US Government, you only have to look at the current battle over the remains of the North Carolina bank holding company, Wachovia. You have the US Government and Citi Group only wanting to buy the good parts of the bank, its banking operations, and then you have Wells Fargo wanting to buy the entire company with no government involvement except for some tax credits they would get under the current tax laws, nothing new.

Guess who the government is siding with? Of course, the now socialist US Government doesn't want the free-markets to take care of this problem, they want to be involved in the solution and all good socialistic governments want.

Here the free market is offering a solution that would not involve the government at all where Wells Fargo would take over all of Wachovia instead of just picking it apart like the Gov/Citi Group deal would do, and the Government is siding with their stooge in this matter: Citi Group.

As I have told you the US Government is becoming more and more involved in all aspects of the financial systems of the USA. This is exactly how Karl Marx said that a government moving towards socialism should act. By taking over the financial systems of the country, the government interjects itself into all parts of the country's economy and would soon be in position to socialize everything else.

If you don't believe me, then Google Karl Marx and read the English translation of his blockbuster, "Das Kapital". See particularly chapter on "The General Law of Capitalist Accumulation".