An Historic Opportunity to Reassert States' Rights

Francis Marion, South Carolina's First Freedom Fighter

If ever there was a time for state leaders to stand up for freedom and the Constitutional rights and sovereignty of their states and say "no" to an increasingly fascist, thug-run federal government, this is it. Is Governor Sanford the only elected leader in South Carolina who sees what is at stake? Is there anyone else who recognizes the historic opportunity and the need to defend the rights and freedoms of our people and institutions? How can anyone reading the following editorial in today's Washington Times not recognize both the dangers and the opportunities that confront us?

South Carolina needs more than websites, transparency and public relations campaigns; it needs bold and decisive leadership.

The Roach Motel

Banks are getting trapped in TARP

Editorial from The Washington Times

Government bailout funds are the roach motel for financial institutions - they check in, but they can't check out.

Banks that were forced to take bailout money are running into political obstacles that prevent them from repaying it. The White House is unwilling to give up the additional control over the banks - the ability to make operational decisions, fire executives and dictate pay scales - that the bailout funds allow. All this has happened as the Congressional Budget Office has raised the estimated cost of the Troubled Asset Relief Program to taxpayers by almost $200 billion to a total bill of $356 billion.

In many cases, this government dependency is not the fault of the banks because many were being run responsibly. According to Fox News judicial analyst and New Jersey Superior Court Judge Andrew P. Napolitano, banks with no financial problems were forced to sell stock to the government or face the threat of costly and harassing public audits. This happened to banks that had "no bad debt, no credit default swaps, no liquidity problems, and no subprime loans" and didn't want or need any government funds. Judge Napolitano called the government actions what they are: "classic extortion."

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