Massive Power Grab by Hank Poulson: Anyone Care About the Constitution?

The former CEO of Goldman Sachs, our Secretary of the Treasury, Hank Poulson, is asking for nearly a trillion dollars from all of you to bail out his friends on Wall Street. But this grab of power and wealth may end up being far bigger than you think. One hint at the vast goals of the banking special interests is found in this MSNBC story :

In Washington, Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and Securities and Exchange Commission Chairman Christopher Cox appeared before Congress Tuesday morning to update lawmakers on the bailout plan, which would take hundreds of billions of dollars in bad mortgages and other risky assets off of banks' and brokers' books.

The Treasury Department's first draft said that only mortgage-related assets would be purchased. But in a later version, the Treasury secretary asked for the power to expand purchases to troubled assets beyond real estate.

That would conceivably leave taxpayers picking up the tab on things like bad car loans and credit card debt. 

The Constitution was meant to severely limit the power of government and to prevent power grabs and insane spending. Where does it authorize a Cabinet member or a central bank to manipulate the markets in this manner? Where is anyone on government given authority to bail out the businesses of their friends with your money?

This is the end of financial freedom and liberty if we do not oppose it. Call your elected officials today and demand that they oppose this power grab and theft by the insiders of the Bush administration. 

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