Archive for the ‘constitution’ Category

Geithner Wants To Seize Troubled Businesses: “By What Authority in the Constitution?”

March 24, 2009

Rep. Michele Bachmann (R-MN) asked Treasury Secretary Tim Geithner today to identify where in the constitution one could find authority governing his idea for seizing a trioubled bank to preserve our national economy.

Geithner said, “It’s the law of the land.  We get our authority from Congress.”

Bachmann’s question was meaningful, in fact, central to much of the recent debate in the congress.  By what authority are we doing all this movement toward socialism and central government planning?  Just because we don’t like the economy, doesn’t mean we can st pay standards for executives, tax them at 90% and seize troublesome businesses.

Bachmann said later on the Fox News Channel she fears a “lurch toward socialism.”

Geithner and Bernanke 
Treasury Secretary Geithner (left) and Fed Chairman Ben Bernanke at the House Financial Services Committee today (AP)

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By JEANNINE AVERSA, AP Economics Writer

WASHINGTON – Treasury Secretary Timothy Geithner asked Congress on Tuesday for broad new powers to regulate nonbank financial companies like troubled insurer American International Group whose collapse could jeopardize the economy.

“AIG highlights broad failures of our financial system,” Geithner told the House Financial Services Committee. “We must ensure that our country never faces this situation again.”

At the same time, Federal Reserve Chairman Ben Bernanke revealed that he had considered filing suit to keep AIG from paying millions in executive bonuses but that his legal advisers counseled him against it.

Geithner acknowledged that the current climate of anger, including the furor over those retention bonuses, will complicate any effort by the Obama administration to get more bailout money from Congress. “We recognize it will be extraordinarily difficult,” he said.

Read the rest:
http://news.yahoo.com/s/ap/20
090324/ap_on_bi_ge/bailout_
bernanke_geithner

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Pelosi, Rangel rushing to tax AIG and other bonuses 90%; This caused a revolution once…

March 19, 2009

Punishment by tax is unconstitutional becaue that is the kind of trickery pulled to punish our Founders the colonists: by the King of England.

So are the Democrats sure they want to vote on a 90% tax for AIG and others like them?

Guess who loves this good thinking?  Nancy Pelosi and Charlie Rangel.

These guys are eating my lunch….

Second idea; the Democrats want to rush this to a vote in the House: the same kind of brainless conduct that brought us the stimulus and the AIG bonuses in the first place.

“Give me a f *&$%# ing break.”

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By STEPHEN OHLEMACHER, Associated Press

Democrats are rushing through a legally questionable tax on employee bonuses from bailed-out firms to paper over the failure of the Obama administration and key lawmakers to stop those payouts, Republicans charged Thursday.

“The Democratic bill brought to the floor today is constitutionally questionable,” said Rep. Mike Pence, R-Ind. “It’s obviously a transparent attempt to divert attention away from the truth that Democrats in Congress and this administration made these bonus payments possible.”

Democrats rushed a bill to the House floor on Thursday to levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money. A vote was expected later Thursday.

“We figured that the local and state governments would take care of the other 10 percent,” said Rep. Charles Rangel of New York, chairman of the tax-writing House Ways and Means Committee.

Read the rest:
http://news.yahoo.com/s/ap/20
090319/ap_on_go_co/aig_outrage

Related:
http://michellemalkin.com/200
9/03/19/first-they-came-for-aig-bonuses/

 Economic Recovery? “These guys are eating my lunch”

Related:
Lawmaking by Stampede Made the Stimulus, Now We’ll Tax ‘Bonuses’ the Simulus Allowed?
.
Obama On Geithner Sounds Like “Brownie, you’re doing a heck of a job”

 AIG Bonus Snafu: Boomeranging Into the Faces of Democrats?

“Dodd The Dodge” — Senator Weasels Away The Truth; And Not Artfully

Obama the centrist, pragmatic problem-solver is gone: now liberal spendathon, no accountability
.
News at eleven followed by Jay Leno and Barack on the National Barack Channel….

Obama, Pelosi: Anything to Win

Obama, Congress, Treasury, Fed: Shameful Mismanagement of Your Money, Recovery

Did Obama White House Fuel AIG Bonus Mess To Enact Tougher Rules With Public Support, “Outrage”?

Fed to pump another $1 trillion into U.S. economy “from thin air”

Stimulus: Barack Ran the Clock; Pelosi Found the Pork; Media Got Amnesia

February 10, 2009

The president is really great at what he does: he spins the truth and gives pep talks. 

He deserves an Academy Award.

The fawning news media deserves a firing squad.

Like China, we just won’t have better government without an agressive media — while the media does the Obama swallow.

Before the president’s availability last night I proposed two questions:

My number one question for all voters: does this look like a campaign or a man honestly defending the best possible economic jump start?

Number two question: Is the media digging for the truth?

We still don’t know why this stimulus is the best we can do.  This is the best Nancy Pelosi could do given the clock set by Obama.

And why can Obama run the clock?  Because America wants jobs and money like they were cocaine.  We want it bad.  Now we’ll get bad….

And the media seems in a love triangle and unable to ask tough questions…..

The media has amnesia.  When did we allow the president to railroad legislation in such an obvious way?  Never…

The constitution gives the president certain powers for war but not for running the economy, as I recall.  The emergency is of his making —  and an economic downturn doesn’t mean we give up our constitutional system and checks and balances for a hope that nobody can say will work….

Lost jobs are bad.  But not taking the time to find real stimulus with long term benefits and lesser negatives than this bill has is just foolish.

The media do have a very real role in good government but they have given it up here for certain…

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By Jennifer Loven
Associated Press

President Barack Obama, urgently pressuring lawmakers to approve a massive economic recovery bill, turned his first news conference Monday night into a determined defense of his emergency plan and an offensive against Republicans who try to “play the usual political games.”

He said the recession has left the nation so weak that only the federal government can “jolt our economy back to life.” And he declared that failure to act swiftly and boldly “could turn a crisis into a catastrophe.”

“The party now is over,” he said.

Speedy passage of legislation to pump federal money into the crippled economy, once seemingly assured with bipartisan support, has become a much heavier lift and a major test of Obama’s young presidency. With more than 11 million Americans now out of work, Obama defended his program against Republican criticism that it is too big, loaded with pork-barrel spending and won’t create jobs.

“The plan is not perfect,” the president said. “No plan is. I can’t tell you for sure that everything in this plan will work exactly as we hope, but I can tell you with complete confidence that a failure to act will only deepen this crisis as well as the pain felt by millions of Americans.”

Obama said the country could well be in better shape by next year, as measured by increased hiring, lending, home values and other factors. “If we get things right, then, starting next year, we can start seeing significant improvement,” Obama said.

On the day that an $838 billion version of the stimulus legislation cleared a crucial test vote in the Senate, Obama warned darkly of what he said would be the consequences of inaction, addressing the nation from the East Room of the White House in a prime-time news conference that lasted almost exactly one hour.

“This is not your ordinary, run of the mill recession,” he said. Obama said the United States could tumble into the kind of economic pain that Japan endured in the 1990s — the “lost decade” when that nation showed no economic growth.

Read the rest:
http://news.yahoo.com/s/ap/20090210
/ap_on_go_pr_wh/obama

http://michellemalkin.com/2009/02/
09/dont-slip-on-the-drool-obamedia
-at-work/