The Federal Government's handling of the Chrysler bankruptcy is unconstitutional. Flat out unlawful. What they are trying to ram through is in fact against everything this nation has said about contract law for over 150 years.
Secured bondholders are being told they have to wait at the back of the line for money that is owed to them, while the unsecured are being allowed to walk up to the front of the line in the interest of political favors.
This is illegal. It's also immoral.
I have avoided commenting much on our Government's intensified path to Mussolini style Fascism lately because I just don't have the time to do it justice. This Government is using it's executive and congressional powers to expand itself at a pace that makes President Bush look like a boy scout. The government along with the Federal Reserve has made it's biggest power grab in history in the name of solving an economic bump in the road. It's moves have made Hugo Chavez look like an amateur, as he implied when he told Fidel Castro "Fidel, careful or we are going to end up to his right".
But there is hope. Justice Ginsberg has halted the sale until she reviews the case. She just may decide to let her fellow Supreme Court Justices look at the case. And I am hopeful that they will do the right thing, and restore the rule of law to this nation. There is precedent for a decision going all the way back to Truman's seizure of US Steel in the 1950's. That Supreme Court ruled 6-3 against the Truman administration.
We need some checks and balances here.
It looks like it is finally possible.
Showing posts with label bailout. Show all posts
Showing posts with label bailout. Show all posts
Tuesday, June 9, 2009
Monday, September 29, 2008
McCain could rise again

A long time ago, Senator McCain was counted out by everyone. He had no money, no support, no chance to win. He was the least likely person to become the Republican nominee.
He can do it again, he always seems to find a way to persevere against all odds. I will briefly explain how he can win the Presidency of the US. All he has to do is listen to what Governor Palin is obviously thinking when she is asked if she supports the bailout. Come out against it. Period.
It seems to me by watching Governor Palin's body language and loss of words when she is asked about McCain's bailout policy that she is not a fan of it at all. But she has to "support" it for Senator McCain's sake. She is a terrible actress though. When she is not being honest, it is clear loses her confidence. Senator McCain picked her because of her no nonsense government reforms and her conservative values. He should probably go with her instincts on this one. I've seen Govornor Palin in action, this bailout is not her. It goes against everything she stands for.
Most Americans are against this bail out. They are not just against it, they are calling congress, writing emails, and calling C-Span, radio, morning television shows, and anyone else that will listen.
We know That Senator Obama has no choice but to go along with Paulson/Bush's plan because he is knee deep in the middle of the whole thing. From Acorn to Fannie Mae/Freddie Mac and everything in between. Never mind the fact that no one has any idea how entrenched Senator Obama is in all of this, he must go with this terrible proposal.
As far as I can tell, Senator McCain made attempts to regulate and reform Fannie Mae/Freddie Mac and has absolutely nothing to lose by not going along with this Paulson/Bush plan. He can look us in the eye and tell us that he has heard our voice and go against it. You'll see House and Senate members siding with Senator McCain by overwhelming margins and then you'll be in a very different political realm. This so-called bipartisan charade will fall apart and the Liberals that began this mess will be stuck with being the party that bailed out Wall Street and cost the taxpayer billions, possibly a trillion or more. They have enough votes to pass this thing without the Republicans getting on board. But they NEED the Republicans in order to make it all look nice and tidy. President Bush will sign it. That's all the bi-partisan support this awful bill needs. Let them take the credit. They will be angry at McCain, but they have to pass this bill. It's their political tracks they are trying to cover after all. Look who Fannie Mae and Freddie Mac has been giving so much campaign money to. Not the party that wanted to reform them. They gave it to the party that would enable them.
So Senator McCain, do you want to be President? Ask your running mate what she thinks? That's why you brought her on board, isn't it? Not to swallow her pride and go along with something she clearly doesn't believe in. Just think what she can do with that fuel in the VP debate too.
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