So, the incompetent Treasury Department, which is barely staffed because Obama can’t proffer nominees, is seeking the power to seize and liquidate companies on its own.

Sorry, but there is a mechanism to liquidate failing companies - it’s called bankruptcy, and it’s worked just fine. The government wants to control which companies live and die, and that’s a power I’m not comfortable with given that these same government types have repeatedly failed to properly figure out the valuation and net worth of institutions. They got Citigroup, WaMu, and Wachovia wrong - when trying to force sales and demanding mergers. WaMu is suing the feds for lowballing their value. Wells Fargo had to sue to get Wachovia when the feds lowballed Wachovia and overvalued and overestimated Citigroup’s stability.

All those mistakes have consequences. Instead of letting the markets decide the values, the government wants to do that for us. That’s a massive mistake.