Is it not constitutional what the Fed. Gov. is doing with tax payers dollars to bail out these corporations/??

Question

Is it not constitutional what the Fed. Gov. is doing with tax payers dollars to bail out these corporations/??

Answer 1

read it below, and you tell me !

Answer 2

It is completely unconstitutional - so are the agencies created during the Great Depression.  The constitution does not allow the government to pick and choose which companies they "prop up" as with Fannie and Freddie, or bail out.  When a person purchases stock in a company, and for some reason that stock plummets, they cannot demand that the Federal Government compensate them for the risk they took.  This is what is happening.  It has been going on for years, but since it worked in the 1930's, the legality of it has been disregarded ever since.

As a result of this practice, more of our debt is being sold to countries we used to lend money to, such as China, Germany and India.  The founding Fathers knew that this practice would eventually destroy the economy.  The constitution  continues to be misused, abused,  and legislated instead of interpreted, and this truly will lead to a mess no one will be able to fix.

Answer 3

First of all it is a shame that congress wastes our tax dollars.  The important thing to realize is that the present banking system and the IRS income tax system are unconstitutional.  It was passed under improper conditions in 1913 under the name of "The Federal Reserve Act".  This act created the IRS and the income tax on workers salaries.  

According to the Constitution it says that "Congress Shall Coin Money and Set The Value There Of."  Not a bunch of private banks under the guise of the Federal Reserve which is neither Federal or legal.  

In this country the money supply is controlled by the private banks and they use The Federal Reserve to print up money out of nothing and then they lend it to the government and the banks with interest and so then we get charged interest for everything.

If Congress were doing their constitutional duty and were setting the value of money then we would not be in this problem now.  You could get a "no-interest" loan if you needed to buy a house or a car etc.  Imagine not having to pay 6.37% interest on a 30 year mortgage.  Look how much money you would save on the purchase of a house.

Also think how much more money you would have if you did not have any taxes taken out of your paycheck.  Before 1913 the government was funded by sales tax and by exicse tax and by tarrifs on products comming into the country.  None of these taxes was a direct tax on your earnings as a worker.  

There would be no need to bail out these organizations and corporations as the Federal Govrenment is not supposed to help the corporations but rather to make sure that their is peace and domestic tranquility in this country.

Answer 4

what kind of banking system do we have when private companies can collapse the entire system if they are incompetently run?

Where is the next company with such power hiding and do we bail them out too?

Lastly... how is this Democracy or Capitalism, isn't it closer to Socialism?

Answer 5

It doesn't matter to me:  if the gvmt. won't bail those banks out then we all will have to pay a huge price---I don't think that there is a provision in the constitution that allows the feds to step in...

Answer 6

No but it will avert a total collapse of our banking system.