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Another Socialist Government Agency Created in Washington, D.C.

Snippets from the linked articles are being used in the following summary under the Fair Use Clause of the U.S. Copyright Act, Title 17, Section 107.

Would you be shocked if the politicians in Washington, D.C. created a new all-powerful Executive Branch agency, with

- an unlimited budget
- no oversight from Congress
- the power to subpoena any organization or company for any and all information
- the power to create new taxes
- funded, thus controlled, not by the Government, but the Federal Reserve

Well, as a result of the Dodd-Frank Act, signed into law by Obama two years ago, The Office of Financial Research, or OFR, is starting operations. Many are speaking of this in Orwellian terms, but a much better analogy are the centralized ministries of industry under the USSR, where all planning, decision-making, and risk management was done in Moscow.

This is another 'trust us' power grab of unprecedented scale and scope, and a prime example of 'best intentions' morphed in the back rooms of power into a socialistic instrument of monumental economic control. In conjunction with another Dodd-Frank creation -- Financial Stability Oversight Council -- they will have immense control over the health and operations of the entire economy.

Rep. Steve Pearce, R-New Mex. “Our Constitution is pretty clear, and so if we're a little scratchy on our side, just understand it's because you're conducting things that we feel like are completely

Rest of Article

Wikipedia Entry for OFR

Added: Apr-20-2012 Occurred On: Apr-20-2012
By: joe prole
Regional News, Politics
Tags: Unlimited government, New agency, Socialism in the United States
Location: Washington, District of Columbia, United States (load item map)
Views: 947 | Comments: 26 | Votes: 1 | Favorites: 1 | Shared: 0 | Updates: 0 | Times used in channels: 2
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