Obama's Plan for Gov't Takeover of Banks

The following steps below are taken from Dick Morris & Eileen McGann's book Catastrophe:

1. Get all banks and financial institutions to take TARP money.
2. Even if they want to give the money back, don't let them.
3. Because they're getting government money, make them obey federal regulations.
4. Make all banks pass a "stress test," allegedly to assure their financial solvency. 
5. After eliminating the stress test, make banks raise more capital, again, supposedly to assure solvency.
6. When the banks can't raise more capital by selling more stock, make them swap the preferred stock they gave the gov't in return for TARP money for common stock. This exchange lets them wipe the debt to the gov't off their balance sheets, but it gives the feds stock that entitles them to vote on company management (which preferred stock does not).
7. Use the voting power of the common stock to dictate how to run the banks.
8. Use the leverage of the banks to control the economy.

Like Dick Morris says and I agree these are steps to socialism. Any bank or financial institution that takes TARP money is a fool. They are asking to be a puppet. But I can understand if they are desperate. After all they are "too big to fail" or so we are told. Maybe that is the plan. Set up a situation (ie oppressive regulations) where a big corporations (eg Big Oil, Big Pharma, etc.) have a hard time succeeding economically. Once they start failing, declare them "too big to fail." Then offer them a "TARP" deal. Then follow steps 2) through 8) above. Also, if you make the corporations enemy of the people then you can get away with the oppressive regulations and say you are doing it for the "good" of the country.