December 10, 2009

The financial services reform bill the House of Representatives is expected to vote on this week is the latest example of the U.S. becoming a socialistic state under President Barack Obama, Rep. Michele Bachmann suggested Wednesday.Bachmann, R-Stillwater, ripped the legislation in an interview, saying the measure would make bailout funding for Wall Street permanent, kill jobs and amount to a government takeover of the finance industry.

"I am very worried about it," Bachmann said, adding that the bill would cause more harm than the climate change bill and the health care measure the House has passed."This is a massive takeover of yet one more sector of our economy," Bachmann said.She has labeled health care reform and the auto industry bailout as government takeovers of private enterprise.