RSS 2.0 FeedThe Triple Standard
by Brad WarbianyThe Pubcrawler, talking about the state “forgiving” past corporate idiocy in the mortgage industry:
If you or I tried this then we’d be thrown in jail. But since this has the government’s blessing, it gets a pass.
Not to mention, can anyone point to that part of the Constitution that says congress should be backing home loan companies? Because I can’t find it.
Take one more step. The corporations will get bailed out by the state for doing things that individuals would be stuck footing the bill for. And the government gets away with stuff CEO’s would get thrown in jail for. A Social Security scheme would never be allowed in a private pension fund. And if you actually looked into the government’s books to see how much money they simply lose, you’d be accusing somebody of embezzlement.
Equality before the law? I guess some people with “connections” are more equal than the rest of us.
What is even more stunning is that these ‘companies’ are a government creation. Freddie Mac and Fannie Mae operate under a government charter.
Where the hell did congress get this power?
Comment by tkc — April 11, 2007 @ 4:40 pmHeck, can someone point to the part of the Constitution which allows Congress to DELEGATE ITS AUTHORITY TO MAKE LAWS (Federal agencies and their regulations-with-force-of-law, anyone?).
Comment by Tom Gellhaus — April 11, 2007 @ 4:40 pmI don’t know when or even IF the Supreme Court was asked to rule on the general question above, but the idea that fed. regulations can be enforced by fiat, bypassing Congress, seems to have been accepted for the longest time.