We've looked at the fact that the federal government did not and has not made General Motors a success. You can not honestly call a company a success that is closing plants and laying off workers and has been forced to declare (a form of) bankruptcy.
And, we've seen that the President was not given the power to control private enterprise by our Constitution.
So, how did this all happen?
In short, the Stimulus Bill. When GM came to the federal government and asked for money, they got it--with the provisos that they obeyed their new masters.
I cannot quote you chapter and verse of the bill, so if you have more to add, please comment and do so.
Is there a problem with this? Our legislative branch legislated these new laws, right?
Well, there are several problems with the legislative process here, beyond the "mere" unconstitutionality issue already mentioned.
1. The stimulus bill was forced to be passed quickly. Speaker Nancy Pelosi used special rulings to bring the bill to a prompt vote. The final bill was brought to a vote in less that 12 hours.
This did not allow time for adequate Congressional debate or for the American people to respond and give input to their elected representatives.
2. The federal government has bypassed bankruptcy laws. Laws are to be applied equally--that is what laws are for! And U.S. bankruptcy laws (the real ones) are effective in helping companies re-organize. About 70% of companies that enter bankruptcy emerge successfully.
Making up new rules as you go along is lawlessness.
Let's explore a bit about bankruptcy laws next.
Research from:
The Boston Globe
Heritage.org
The St. Petersburg Times
And, we've seen that the President was not given the power to control private enterprise by our Constitution.
So, how did this all happen?
In short, the Stimulus Bill. When GM came to the federal government and asked for money, they got it--with the provisos that they obeyed their new masters.
I cannot quote you chapter and verse of the bill, so if you have more to add, please comment and do so.
Is there a problem with this? Our legislative branch legislated these new laws, right?
Well, there are several problems with the legislative process here, beyond the "mere" unconstitutionality issue already mentioned.
1. The stimulus bill was forced to be passed quickly. Speaker Nancy Pelosi used special rulings to bring the bill to a prompt vote. The final bill was brought to a vote in less that 12 hours.
This did not allow time for adequate Congressional debate or for the American people to respond and give input to their elected representatives.
2. The federal government has bypassed bankruptcy laws. Laws are to be applied equally--that is what laws are for! And U.S. bankruptcy laws (the real ones) are effective in helping companies re-organize. About 70% of companies that enter bankruptcy emerge successfully.
Making up new rules as you go along is lawlessness.
Let's explore a bit about bankruptcy laws next.
Research from:
The Boston Globe
Heritage.org
The St. Petersburg Times
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