Obama advocate Senator Chris Dodd [Dem-Conn] is about to file a proposed piece of legislation intended to consolidate Washington's control on another aspect of the American economy. This time the intended victim is yet again the banking industry.

There is no question that the banking industry in this nation is straining to stay viable much less be profitable. The federal government has closed over 90 failing banks so far this year and nearly another 400 of these financially related businesses remain on a federal "watch list". Some of these failed banks are merely casualties of the current recession but many are failing as the result of self inflicted wounds from poor investment choices to overly risky loans approvals. There is some evidence of owner greed but the personal avarice nature of bankers is not a fundamental problem.

A more concerning fact is that the available FDIC security funds have drastically decreased and additional assessments against the remaining banks are inevitable. Yet another "strain" on the banks.

So what does Dodd suggest? His plan is to unify all 4 federal bank governing agencies into one supreme group. The entities in the sites of Dodd are the Federal Reserve, the Office of Thrift Supervision, The Federal Deposit Insurance Commission and the Comptroller of the Currency. His rational for this legislation is that it "restores confidence" in the banking industry and makes it "easier to seize large troubled companies".

Since when did enlarging any government agency ever "restore confidence" in anything? How can making it "easier to seize troubled companies" ever "restore confidence" in any businessman? Most Americans wish for the federal government to get out of private business matters and let the tenets of capitalism work. However, the socialist Obama and his allies want more, not less, government involvement. If this Dodd plan sound familiar it should. The exact same program was suggested by Obama but was so heavily criticized that it was abandoned.

Lets not forget Barney Frank. He is also at work in this matter and has a piece of legislation to introduce that only combines two of the above said departments.

What a horror picture! Obama, Dodd and Frank working to control the American banking industry.