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A small limited class
Posted by Raven on July 17th, 2008
About the two big F’s.
The federal government is one of limited powers. It may only constitutionally engage in behavior that is specifically authorized in the Constitution. The Constitution’s General Welfare Clause requires that all the federal government’s expenditures be for the general welfare, such as a highway, or a national park, or a military installation; something from which everyone can directly benefit. Shareholders of Freddie, Fannie, and Bear Stearns are a small limited class of persons whose well-being hardly enhances the general welfare.
How can we be a nation of laws when our government constantly violates it’s own set of rules? Sure, the homeowners might be called the “general” here, but they are not. The reason, and never forget this, for this bail out was to protect the investors. At tax payers expense.
July 17th, 2008 at 9:07 am
Remember Bush the Elder’s bailout of all those savings and loans? Time to crank up Hank Jr.’s Family Tradition.
July 17th, 2008 at 10:35 am
Yep…crank it up and cover your ears. LOL
July 17th, 2008 at 7:28 pm
Raven,
The General Welfare Clause and “interstate commerce” have both been stretched that they look like Rosie O’s thongs. The feds will just say that if Freddie and Fannie go under… it’ll affect the ENTIRE economy (maybe it will) and then the “general welfare” will be affected. That is what the feds do now, its like “Six Degrees of Kevin Bacon“, everything can be tied together if you look hard enough…
July 19th, 2008 at 5:38 pm
BWAHAHAH hiccup…hey I cannot stand that Bacon. He’s gay.