Paul, Ron
March 2010
Harvard Journal of Law & Public Policy;Spring2010, Vol. 33 Issue 2, p465
Academic Journal
The author in the article argues that the U.S. is heading for socialism. He explores the idea that the banks are straying from the Constitution's framework. He states that since October 2008, the Treasury Department and the Federal Reserve have taken large shares in many private firms including insurers, banks and manufacturers. He claims that long before the 2008 economic downturn, the banking sector was already quasi-socialist and that the government through its Federal Reserve policy has been eroding the American's capacity for self-government.


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