Is the US headed towards a socialist government?

[Taem]

I love this guy:

The senior official said this new government regulator will "be able to look through any structure, any complexity to the actual substance of what any major financial organization is doing that could impose a systemic risk on our country."

This after asking for the power to assert new rules and regulations he sees fit over large corporations. I don't think this is exclusive to just the ones the US government has loaned money, but all corporations based in the US. I like how he makes it sound that the new system will only:

"It is what you do and the risk you could impose, not the structure or the complexity of your organization or your efforts to compete or choose a different regulator," the official said. "After what the country has seen with AIG (American International Group) I think a far larger amount of Americans understand the danger of allowing enormous amount of credit default swaps and derivatives to be placed without oversight or regulation."

But honestly, will it only be used to monitor credit, and why should the government be involved in the Stock Market to such an extent anyways, and with corporations they haven't loaned money? Really, need I say more? That is some potential long-reaching power to make up laws and rules he feels will help the US. Here's the entire article if your interested.