http://disqus.com/by/michaelanthonycole1/enFri, 03 Oct 2008 13:10:51 -0000https://techliberation.com/2008/10/03/nyt-live-blogging-bailout-debate-barney-frank-warns-of-socialism/#comment-2824043<p>We know things are bad when Cong. Frank is wary of more socialism! However, Frank's "socialism" is not merely expensive. It's inconsistent with limited government. There's more to take away from Frank's concern than shock at the bailout's expense. Indeed, the "blank check" given in 2002/2003 has drawn more funds than this one promises to.</p><p>It is the expansion of government's areas of concern and authority that should concern us most about the bailout . Section 8 of the failed plan provided expansive authority for the Secretary, and Sen. Dodd's plan specified new federal bureaucracies to manage the government's new stake in the markets. I haven't read a summary of the new plan, but I see no reason to believe that these features will change substantially. Therein lies the bailout's great corruption, regardless of the pricetag.</p>michaelanthonycole1Fri, 03 Oct 2008 13:10:51 -0000