Sunday, October 23, 2011

Really? How Does This Square With the Constituton...?

From the desk of: Les Carpenter
Rational Nation USA
Liberty -vs- Tyranny

The Daily Caller - Virginia Democratic Rep. Jim Moran told The Daily Caller on Thursday evening that President Obama should “refinance every home mortgage” without congressional approval in order to “reset the economy.”

“Absolutely, I think [Obama] should do that but there are not a lot of places where he can act unilaterally,” Moran told TheDC during Conservation International’s Oct. 20 dinner in Washington, D.C.

“If he chooses to act unilaterally,” Moran said, “the likelihood is that there will be language in the appropriations bills that will prohibit him from spending money for that purpose. That’s just the political reality. But notwithstanding that, I think he should do everything he can do on his own to stimulate jobs.”

Obama has already asked his Council on Jobs to identify areas of the American Jobs Act that can be implemented without congressional authorization.

Moran told TheDC that he would “like to see” the Obama administration “refinance every home mortgage at three-and-a-half to four percent” interest, which he said can be accomplished without approval from Congress.

“The banks aren’t doing it, but the federal government can borrow money at three-and-a-half percent today. They should use that money to refinance every home mortgage, and that would put $750 billion into homeowners pockets,” he said. “It would reset the economy, and I think it’s the one thing that would most quickly get this economy back on its feet.”

Moran said that the plan “doesn’t cost any federal money. The people who are opposed to it are the Wall Street investment banks, the ones that we bailed out for hundreds of billions of dollars,” he added. “The federal government could do that because most of these loans are now owned by Fannie Mae and Freddie Mac.”

Republican Sen. John McCain of Arizona told TheDC this month that Obama could “get away” with creating jobs without authorization from Congress.

“I’m sure that the president and other presidents before him, Republican and Democrats, have tried to exceed their constitutional authority,” McCain said, ”but we will do everything we can to try to stop it but I’m not saying he can’t get away with something.”


It seems under Obama's reign of American plutocracy the federal government {Leviathan} may very well become accustomed to unilateral decisions and imposing its will on the people.

I thought our government was to be the servant of the people, rather than the reverse. Funny how our government under this President has managed to corrupt our political process.

If we the people don't stop the statist trend now I freely ask when?

Perhaps I misread the Constitution?

Via: Memorandum


  1. This is what happens when we let "our guys" do it. You may not be guilty of it, Les, but I am.

    I watched as politicians I liked abused the constitution and said nothing, as did tens of millions of Americans.

    We fell asleep and are now reaping what we have sown.

  2. Constitution? What's a constitution?

  3. I bet Moran supports Occupy Wall Street, too. Cancel all debt, free education... A Constitutionally defined government? What's that?

  4. It's all greed and power-lust. That is what motivates such men.

  5. It's a lovely if not ridiculous sentiment, but no president could have righted the Mortgage Meltdown, and Obama, and all the cons and GOPers, and everyone (sane) else knows it. It's not a funny subject at all. There's no irony here. It's a bad scene, and it has been since mid-2008, when you think about it. How much have things changed from then? Not much. It was bad news then and it's only gotten worse. At least we have a President who cared enough to see to it the American people had their safety net, because otherwise we'd have had another Depression.

    Face the obvious: The cons ran the nation into a huge, gaping, obvious ditch in the first decade of the 2000's.

    They went to war without paying for it. They encouraged immune, risky, weighty investment, then they borrowed heavily from those same immune banks, and they plunged the vast majority of the people into permanent consumer/governmental debt, selling our Treasury to the lowest bidder.

    Wow! Hey! What a surprise!

    The GOP doing what it always does! We need more of that!

    Man. If I was as conservative now as when I was younger, I would like to think I'd have the sense to make the right choice here.


  6. How much have things changed since 2008? Jersey? Actually, a lot. President Obama's policies have resulted in 20% higher unemployment since he took office, and he chose to increase the entire national debt 50% over what Bush left him.

    Some "Safety Net".

  7. I you're not a liberal at 20 you have no heart. If you're not a conservative at 40 you have no brain.

    Winston Churchill

    Gee jmj, once again ya kinda have it backwards!

  8. So the Right's feitshization of the Constitution means Fraud-meisters Boeing and Bank of America get away with whatever they want (maybe the pay a few hundred million to settle accounts) whilst the typical American gets nothing.

    Usury Trumps Life, Liberty and Property...

  9. Grung: What? What did Boeing do?

  10. Ha ha ha ha ha! What did Boeing do? How about be found liable for $644 million dollars in fraudulent charges under DoD contracts!

  11. This is an old post, and my comment will probably not get noticed; but it is an interesting topic nonetheless. So the question is: Is the proposed refinancing of housing and student debt unconstitutional, confiscatory, and/or authoritarian? Law is not my area of expertise, but an Octopus is a better than average researcher, so I’ll take a crack at this. Why not!

    Many forms of debt restructuring are not considered unconstitutional, and there is a considerable body of common law that governs these practices, examples:

    Eminent domain is an action of the state to seize a citizen's private property, expropriate property, or seize a citizen's rights in property with due monetary compensation, but without the owner's consent. The Constitution protects property rights to some extent but also leaves room for eminent domain by mandating compensation and using the term "public use."

    For argument sake, the closest fit to the post are the various types bankruptcy allowed under Title of the United States Code:

    _ Chapter 7: basic liquidation for individuals and businesses;
    _ Chapter 9: municipal bankruptcy;
    _ Chapter 11: rehabilitation or reorganization
    _ Chapter 12: rehabilitation for family farmers and fishermen;
    _ Chapter 13: rehabilitation with a payment plan for individuals; also known as Wage Earner Bankruptcy.

    Typically, bankruptcies are supervised by the courts to prevent abuse and fraud, and one goal of individual bankruptcy supervision is behavior modification to prevent future insolvencies. But what happens when insolvencies are caused by circumstances beyond your control … an accumulation of medical bills, job layoffs, depressions and recessions, as examples?

    My point is that if a creditor loses assets due to debt restructuring, there is a substantial tradition of law that allows it; therefore it is constitutional.

    I should point that there are innocent victims of housing foreclosures: The neighbors. When one house goes under, the entire neighborhood suffers, and there are reasons for trying to salvage what you can.

    For what it’s worth, my two cents (debt free of course. I consider myself one of the fortunate ones).

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