Congress Declares Contracts Null and Void

Hello nationalization, good bye rule of law! Barney Frank (D-MA) has done it again. Byron York reports in the Washington Examiner that:

"...the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would go beyond the most draconian features of the original AIG bill... the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees ... of companies that have received a capital investment from the U.S. government. It would be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies."

In case any of you missed my post, "The Unconstitutional Congress," I spelled out how this type of ex-post-facto law is unconstitutional. The Constitution of the United States, Article I, Section 9, paragraph 3 provides that: "No Bill of Attainder or ex post facto Law will be passed." Additionally, here is a lovely quote from James Madison:

Bills of attainder, ex-post-facto laws, and laws impairing the obligation of contracts, are contrary to the first principles of the social compact, and to every principle of sound legislation. James Madison, Federalist 44.

Whether Congressman Frank is attempting to cover up his and fellow Democrats unbelievably incompetence relative to Freddie Mac and Fannie Mae, or they truly believe that Congress can arbitrarily revoke contracts is yet to be seen. In either case, what they are doing is a violation of the basic principals of the founding of this country! Further, if allowed to pass, it will destroy the financial foundation of the United States. Nitro-Pak.com

The United States is economically successful because of its transparency, its commitment to contracts, as well as its protection of private property and the rule of law. However, what we are seeing of this Congress and President Teleprompter is a wanton attempt to destroy the economy of this country. Special Sign Up Bonus: FREE rollover minutes. Order Today!

Allow me to issue this warning today:

Citizens of the United States, if you wish your country to remain the bastion of liberty and prosperity, act now to reign in the blatant, unconstitutional action of this Congress and President. Contact your elected representatives and regularly demand accountability, constitutional action, and an end to destruction of the rule of law. Failure to act will lead to cataclysmic consequences and the absolute destruction of liberty! Pray for our leaders and our country that this Republic will not become the home of tyranny! Great fares to India on Air France!

In case you don't think this behavior is serious, allow me to refer you to the CEO of GM, who, according to President Teleprompter, was fired by the government. Since when did the government have the authority to fire anybody from a private company?? This gross abuse of government authority must stop!

The Unconstitutional Congress

Bills of attainder, ex-post-facto laws, and laws impairing the obligation of contracts, are contrary to the first principles of the social compact, and to every principle of sound legislation. James Madison, Federalist 44.

The US Congress has written and is debating legislation, today 19 March 2009, to "claw back" the bonuses that AIG awarded to certain employees in the amount of $165 million. Cheap? No. 100% Free. Trade stocks for free on Zecco.com. The Free Trading Community. www.zecco.com

It turns out that Sen. Chris "Sweetheart Countrywide Mortgage" Dodd (D-CT) admitted to writing the legislation that allowed the bonuses in $787 billion stimulus package.

Dodd, D-Conn., told FOX News that Treasury officials forced him to make the change.

"As many know, the administration was, among others, not happy with the language. They wanted some modifications to it," he said. "They came to us, our staff, and asked for changes, and the changes at the time did not seem that obnoxious or onerous."

In a brazen attempt to cover their political backsides, Congress has written legislation "...that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money." Guess who wrote this gem, none other than tax cheat Charlie Rangel (D-NY). Become a Decision Maker. Search Director, VP, & Manager level Jobs.

The legislation is clearly unconstitutional, as it specifically targets AIG who lawfully paid bonuses, that were approved by Congress. Congress approved the bonuses as part of the last $30 billion in aid that AIG received. In short, it is a Bill of Attainder. According to techlawjournal.com a Bill of Attainder is:

A legislative act that singles out an individual or group for punishment without a trial.

The Constitution of the United States, Article I, Section 9, paragraph 3 provides that: "No Bill of Attainder or ex post facto Law will be passed."

As I wrote in my previous post, "Bonus Indignation" Congress is trying to make political hay and create cover, by using AIG as a scapegoat. This is all a big distraction from the disastrous spending they have written and President Teleprompter has signed.

Americans are finally beginning to clue in to the enormity of the bailouts and fiscal irresponsibility of Congress and President Teleprompter. As America's future generations have been sold down the river of debt, and the current generations are getting ready to face hyper inflation, Congress fiddles with manufactured outrage over $165 million. Protect your Medical Identity with TrustedID. $1,000,000 Warranty & Great Customer Service

Too bad they don't have President Bush to kick around any more.