You are here: HomeEconomyCommentaryThe Bailout and the
Constitution Thursday, 13 November 2008 18:52  The Bailout and
the Constitution  Written by  Patrick Krey   It is sadly ironic
that one of the first things new law students get is a pocket
Constitution because, over the next three years, they learn that
modern federal laws have nearly nothing to do with what is
specifically enumerated in that document. This unconstitutional
trend continues with the recent record-setting bailout, which is
officially called the Emergency Economic Stabilization Act of
2008 (EESA).  The mainstream press reported the political battle
over passage of EESA being mainly an issue of whether it would
garner enough votes and not whether the federal government is
even empowered to do such a thing in the first place. It was
rare to even hear any mention of the Constitution in the debate,
but there were a few questions asked by true proponents of our
founding document. Congressman Ron Paul (R-Texas) questioned the
dubious constitutiona