I can certainly empathize with the Occupy Wall Street Movement. While ex-Goldman guy/U.S. Treasury Secretary Henry Paulson, fellow ex-Goldman guy/New York Fed President Tim Geithner and Fed Chairman Ben Bernanke worked diligently to use taxpayer money to bail out Goldman Sachs and some other 1 percenters, the rest of us were dealing with layoffs, foreclosures and bankruptcies — with no bailouts in sight, just more circular rhetoric and broken promises.
In the midst of all this has emerged a war cry directed against capitalism itself. It is here that I feel some of my fellow 99 percenters may have been misled and have thus misdirected their fiery and very justified frustration.
Pity the poor small businessman. Up and at ‘em in the predawn hours, seven days a week, desperately balancing family with work, he pilots his fragile dream through the storm-tossed waters of President Barack Obama’s economy. And the President wants to take it all away.
A treaty being worked out this month at the United Nations could possibly make the Second Amendment the focus of international legal scrutiny. It is supposedly an effort to fight international “terrorism,” “insurgency” and “crime syndicates.”
On this very day in 1832, Jackson vetoed the Second Central Bank’s charter renewal. He later signed an executive order announcing that the Federal government would no longer use it and removed all Federal funds from the bank. This Presidential action of decentralizing economic power has never happened since and will likely never again.
During a House vote to hold Attorney General Eric Holder in contempt of Congress for his refusal to full cooperate in an investigation regarding the fatally flawed Fast and Furious “gun-walking” operation, several Democratic lawmakers walked out. By a vote of 255-67 the House passed the resolution to hold Holder in Contempt of Congress.
The Supreme Court issued a ruling on President Barack Obama’s Affordable Care Act upholding many of the laws central provisions Thursday morning. One of the most important rulings by the Court regarding the Constitutionality of the healthcare overhaul was describing the individual insurance requirement as a tax, rather than a forced purchase.
During the Constitutional Convention, there was much discussion about the chief executive, how much power he should have, how long his term should be and whether there should be more than one. In fact, the lack of a chief executive was considered one of the glaring weaknesses of the Articles of Confederation.
Save Alexander Hamilton and James Wilson — who advocated for a strong chief executive similar to a monarch — delegates were most concerned that the executive would turn into a virtual king. During the Philadelphia Convention, Charles Pinckney said he was “for a vigorous executive, but was afraid the executive powers of the existing Congress might extend to peace and war, &c.; which would render the executive a monarchy of the worst kind, to wit, an elective one.”
Federal Reserve Chairman Ben Bernanke continued the Fed’s war on and destruction of American savers and retirees last week with a continuation of Operation Twist. He will keep shuffling the same money piles back and forth to continue the charade that it is doing something constructive for the American people. But the truth is much different.
The people are getting dumber. That was the message from retiring Representative Gary Ackerman (D-N.Y.) when asked about the difference in cooperation across the aisle in Congress and how it has changed during his 30 years as a lawmaker.
Washington, D.C. is a cesspool of corruption. The fact that Congressman Ron Paul has spent 22 years in Congress, including the last 15, and not been infected by the corruption is what sets him apart from most other politicians. Sadly, it seems his son Rand did not inherit his father’s fortitude.