posted on Sep, 19 2008 @ 10:28 AM
WTP (We The People) Foundation (link
) is a Constitutional issues as well as
federal-income-tax-protester group. They filed a lawsuit not long ago regarding the right to petition for redress of grievances and five or six other
issues such as the income tax and the Federal Reserve.
Now they have filed a lawsuit
attempting to force a show-cause hearing and
grant injunctions against bailouts. The lawsuit alleges that the actions of the government are ultra vires
of its Constitutional limitations.
Defendants include Ben Bernanke and Henry Paulson.
I for one agree that the bailouts are far above and beyond the Constitutional powers of the federal government, however the government has created a
world in which such extraordinary powers are at times necessary and this was definitely one of those times. Without the bailout we would be in far
worse shape, and the interest rate on those $85 billion is 11%, so it should
generate some much needed revenue.
I know a lot of members here are opposed to the bailouts and a few are in favor. Regardless I'd like to hear what you think about the legality of the
[edit on 19-9-2008 by EtSolveMundi]