Tuesday, September 30, 2008

$700 Billion to do What?

Buyout Plan for Wall Street is a Hard Sell on Capitol Hill
By Mark Landler and Steven Myers
New York Times

The impact between Marbury vs Madison is that the supreme court could not declare laws that were unconstitutional. The reason for that was because the Constitution is the very foundation of our country. So our government believes thats any law we provide for our people can not contradict the original document·

Mr. Paulson urged lawmakers "to enact this bill quickly and cleanly, and avoid slowing it down with other provisions that are unrelated or don't have broad support." What Mr. Paulson wanted to do was to take $700 billion plan to buy up and hopefully resell troubled mortgage-backed securities which he is planning to get from our taxes. The down side is that Mr. Paulson wants the $700 billion dollars without informing the public of what he plans on doing with that massive amount of money. So either the choices he makes with it can help out the United States, or if the chance of him making a mistake could send the country in a negative direction.

The class connection relating to this article is that we talked about the constitution and how it relates to our form of government. When we have a issue happening in todays news, and it happens to contradict the constitution, it is considered a "constitutional crisis". And since Mr. Paulson's plan is a crisis because he would not allow review to the public.

To see a video concerning this article click here.

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