From my earlier studies of the constitution I was thinking the same thing. But I really wasn’t sure if I was right or not until I heard several reporters mention this also. So I immediately thought I need to check this out and see if my original thinking and that of the reporters I was hearing was correct.
So that is what I did. According to the United States Constitution, Article 1: Section 7 “All bills for raising Revenue shall originate in the House of Representatives.”
In other words, the senate has usurped power that the constitution did not give. This bill with the raising of revenue must originate with the HOUSE and not the senate. The bill passed by the senate is unconstitutional and has no weight in law. The House of Representatives should not have even considered the bill and refuse to vote on it. It has no legal standing to be brought in to the House for a vote. The bailout bill was to originate in the HOUSE and then go before the senate. Not the other way around.
I don’t suspect anyone in the U.S. House of Representatives or the U. S. Senate is going to pay any attention to me - or to the constitution for that matter. But I thought it was something you ought to know.
One last thing. This bill was 450 pages long. Do we honestly think that anyone actually read this bill in the short few hours they were given from between the time it was placed on their desk and the senate vote.
We have been told that the reason we are in this financial mortgage crunch is because of all the bad housing loans that have been given to people who simply did not have the ability to meet the mortgage payments.
The reason these loans were made is because of fear of lawsuit from civil rights attorneys who were claiming that lending institutions were not providing loans to minorities. It has been reported that Barack Obama, as a community organizer was active in this regard.
The State of Illinois was providing 1% mortgage loans to illegal aliens so they could become a productive member of the community and not be a burden on society. Go figure!
Now this monster has come back upon us.
It reminds me of the final scene in Mary Shelley's classic story of Frankenstein when the monster went out of control, brought destruction upon the city and townspeople. People lay dead in his wake and now he was coming after the man who created him.
At that moment a friend arrives and witnesses the chaos and death, he rushes to Dr. Frankenstein and exclaims "Dr. Frankenstein, what happened?"
Dr. Frankenstein answers "A monster, a monster has done this."
"The monster was crazy, it has destroyed my home and has killed innocent people."
His friend asks, "A monster? where did it come from? . . . Dr. Frankenstein. where did the monster come from?"
The doctor - looking confused said, "I . . . I created it. I made it myself."
This financial monster was created - not by the fat cat bankers - it was not created by Wall Street. It was created by the culture of political correctness.
Lending institutions were forced to give loans (student loans, housing loads etc. ) to hundreds of thousands of minorities who simply could not make the payments, The loans were granted because of threats from the Justice Department that institutions were in violation of civil right laws and were discriminating against minorities.
Jesse Jackson and Barak Obama and many others were organizing boycotts if lending institutions did not grant minority loans.
The monster has come home!