Not even remotely: the attorney-in-fact (that's the term for the person granted authority pursuant to a power of attorney) has no power to overrule, supercede, etc. his or her principal; and furthermore, the principal can revoke (or limit, if he/she doesn't want to revoke entirely) the attorney-in-fact's power at will...which means that the POA document cannot enforceably state that the principal has no control over finances. If someone does want to give up all control over his/her finances, he/she should set up an irrevocable trust and in the trust, can give the trustee certain parameters (such as spend money for food, housing, and medical needs but nothing else; keep the beneficiary on a strict budget; etc.) which will accomplish this.