Comments on: Somebody Send the Waaaambulance to DC http://blog.4d2.org/2009/03/19/somebody-send-the-waaahmbulance-to-dc/ Because everyone else already has one Wed, 01 Feb 2012 02:58:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Michael http://blog.4d2.org/2009/03/19/somebody-send-the-waaahmbulance-to-dc/comment-page-1/#comment-3281 Michael Fri, 20 Mar 2009 11:39:05 +0000 http://blog.4d2.org/?p=966#comment-3281 It would be gratifying to see the Supreme Court declare that a 90% tax is inherently punitive and that the tax bill constitutes a bill of attainder, but most legal scholars don't seem to think that will hold up. Congress was granted the constitutional power to tax, after all. So I'm not holding out much hope on that one. I'm just ready for Barney Frank to stop running his mouth at this point. It would be gratifying to see the Supreme Court declare that a 90% tax is inherently punitive and that the tax bill constitutes a bill of attainder, but most legal scholars don’t seem to think that will hold up. Congress was granted the constitutional power to tax, after all. So I’m not holding out much hope on that one.

I’m just ready for Barney Frank to stop running his mouth at this point.

]]> By: Dad http://blog.4d2.org/2009/03/19/somebody-send-the-waaahmbulance-to-dc/comment-page-1/#comment-3277 Dad Fri, 20 Mar 2009 01:27:25 +0000 http://blog.4d2.org/?p=966#comment-3277 I absolutely agree. Congress screwed up by not doing adequate due diligence when they passed the TARP. OK, I can almost give them a break - the stock market was tanking every day and there was enormous pressure to do something. I think oversight of how the bailout money is spent is critical, but this combination of Monday morning quarterbacking and a retroactive law is scary. And AIG paying bonuses to the same dummies that turned a pretty well run insurance company into a whatever sort of hybrid "financial services" thing that morphed out the ooze of a lax regulatory environment is stupid. But as the current whipping boy running the treasury said, we're a nation of laws. I think the Supremes may weigh in on this one. We got taken. Let's learn from this and not let it happen again. I absolutely agree. Congress screwed up by not doing adequate due diligence when they passed the TARP. OK, I can almost give them a break – the stock market was tanking every day and there was enormous pressure to do something. I think oversight of how the bailout money is spent is critical, but this combination of Monday morning quarterbacking and a retroactive law is scary. And AIG paying bonuses to the same dummies that turned a pretty well run insurance company into a whatever sort of hybrid “financial services” thing that morphed out the ooze of a lax regulatory environment is stupid. But as the current whipping boy running the treasury said, we’re a nation of laws. I think the Supremes may weigh in on this one. We got taken. Let’s learn from this and not let it happen again.

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