Socialism is coming, warns Dick Morris. The Republican strategist wrote on DickMorris.com that President Obama's plan to convert government stock in the country's banks from preferred stock to common stock would result in the federal government have a controlling voice these banks.

"And whoever controls the banks controls the credit and, therefore, the economy," he wrote. "That’s called socialism."

Preferred stock generally does not contain voting rights, while common stock does. "With bank profits up and financial institutions trying to give back their money, there is no need for the conversion of the government stock from preferred to common — except to advance the political socialist agenda of this administration," Morris wrote.

Dick Morris is a nationally recognized political stategist, consultant and author who is available to speak at your next event. For information on how to book an event with him, visit www.premierespeakers.com/dick_morris.