Vote yes or no on the bailout

[Dubai Vol]

You won't get a vote that counts, but here's a chance. Bush says taxpayers "must" support the bailout, and congress is going to pass it, so you're stuck. But here you get to vote. Should the Congress vote $700 Bn to bail out Wall Street? Keeping it simple, just yes or no.

 

[mrt144]

Bush says lots of things.

 

[emzie]

Yes as long as there's oversight. Not like I'm paying for it anymore.

 

[AngryZealot]

It depends how the bill is written. The original proposal should not get a single vote in congress; it's that poorly written.

 

[JollyRoger]

Certainly not $700 billion right away - the free market is already sorting it with people like Warren Buffett stepping in. See what the first hundred billion or two of goverment intervention will do while buying time to get a more comprehensive contigency response together.

 

[North King]

No. It's fiscally irresponsible and encourages even more corporate irresponsibility down the road. The only way this could work is something much more limited, with full oversight, disclosure, and accountability.

 

[mrt144]

Yes as long as there's oversight. Not like I'm paying for it anymore.

but you still have the smugness of an american.

 

[Cutlass]

A bailout, yes. The president's plan, no. Not as it stands.

 

[emzie]

but you still have the smugness of an american.

Well it doesn't rub off!

 

[JohnRM]

No! And damn the consequences.

The Constitution of the United States does not authorize the Federal Government to bail out private financial institutions. If they want to do that, change the Constitution first.

Furthermore, I have my doubts as to whether this will work or not, nor do I believe that these people should be saved from themselves. They caused this mess and now the taxpayer is footing their bill. I would also rather give that $700 billion to the taxpayers to spend before giving it to the bankers.

Finally, the original document is just completely unacceptable. Without any oversight, giving the Treasury Secretary the absolute power to do with the money as he pleases, I find it to be a terrifying prospect, the potential passage of this bill.

 

[Cutlass]

No! And damn the consequences.

The Constitution of the United States does not authorize the Federal Government to bail out private financial institutions.

yes it does.

 

[AngryZealot]

The Constitution of the United States does not authorize the Federal Government to bail out private financial institutions.

No, but it did authorize the government to pass laws enabling itself to bail out private financial institutions.

 

[JohnRM]

yes it does.

Show me.

tencharactersblowgoattesticles

 

[JohnRM]

No, but it did authorize the government to pass laws enabling itself to bail out private financial institutions.

Show me.

tencharactersblowsgoatballs

 

[Cutlass]

That's been gone over a million times. The "necessary and proper" clause gives Congress huge latitude in deciding what is necessary and proper. It's a legal question, and a policy question, but it is not a Constitutional question.

 

[emzie]

That's been gone over a million times. The "necessary and proper" clause gives Congress huge latitude in deciding what is necessary and proper. It's a legal question, and a policy question, but it is not a Constitutional question.

You're speaking with a strict Constitutionalist

 

[JohnRM]

That's been gone over a million times. The "necessary and proper" clause gives Congress huge latitude in deciding what is necessary and proper. It's a legal question, and a policy question, but it is not a Constitutional question.

No, it doesn't! The actual wording is this.

To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof.

That is it! Congress does not have the authority to make any other laws for any other purpose than those explicitly contained herein. What are the listed powers given to Congress?

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

To borrow money on the credit of the United States;

To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;

To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;

To establish Post Offices and Post Roads;

To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries;

To constitute Tribunals inferior to the supreme Court;

To define and punish Piracies and Felonies committed on the high Seas, and Offenses against the Law of Nations;

To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;

To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years;

To provide and maintain a Navy;

To make Rules for the Government and Regulation of the land and naval Forces;

To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions;

To provide for organizing, arming, and disciplining the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress;

To exercise exclusive Legislation in all Cases whatsoever, over such District (not exceeding ten Miles square) as may, by Cession of particular States, and the acceptance of Congress, become the Seat of the Government of the United States, and to exercise like Authority over all Places purchased by the Consent of the Legislature of the State in which the Same shall be, for the Erection of Forts, Magazines, Arsenals, dock-Yards, and other needful Buildings; And

To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof.

Those are the powers of Congress. The U.S. Constitution is a document that is supposed to limit the powers of the Federal Government. That list was not meant to list just some of the powers of Congress. What would the point of the document then be? It LIMITS the powers of Congress and the document explains exactly what those limits are.

 

[JollyRoger]

The Constitution of the United States does not authorize the Federal Government to bail out private financial institutions. If they want to do that, change the Constitution first.

The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States;

To regulate commerce with foreign nations, and among the several states, and with the Indian tribes;

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

To make all laws which shall be necessary and proper for carrying into execution the foregoing powers, and all other powers vested by this Constitution in the government of the United States, or in any department or officer thereof.

 

[Cutlass]

We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America.

 

[JohnRM]

The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States;

This part authorizes Congress to tax the people to pay for the institution of its other powers. No authorization to bail out private companies there.

To regulate commerce with foreign nations, and among the several states, and with the Indian tribes;

This one allows Congress to...well...regulate commerce, which is not bailing out private companies. No authorization there.

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

This one allows Congress to...well...coin money and set the value...

...do you even understand English?! Cause you seem to have such a hard time understanding the meaning of these words.

To make all laws which shall be necessary and proper for carrying into execution the foregoing powers, and all other powers vested by this Constitution in the government of the United States, or in any department or officer thereof.

Yeah, that authorizes Congress to pass laws to execute the aforementioned powers. No authorization here to bail out private companies.