"We The People" sues to stop AIG bailout
September 18, 2008
WTP Brings Federal Lawsuit to Stop AIG Bailout
U.S. Lacks Constitutional Authority for Loan
On the day following the 221st anniversary of the signing of the U.S. Constitution, WTP Chairman and constitutional activist Robert Schulz today filed a federal lawsuit in United States District Court in Albany seeking to halt the execution of the emergency bailout of American International Group, Inc. (AIG) by the United States Government and the Federal Reserve.
The lawsuit asserts that the commitment of public funds and credit for the direct benefit of privately owned AIG is an ultra vires action by the United States Government and Federal Reserve, i.e., beyond the limited legal authority granted by the Constitution. The lawsuit asks for a "show cause" hearing demanding that the Government produce evidence of its legal authority to commit public funds for such a purpose, as well as emergency and permanent injunctions halting the bailout transaction.
Beyond the Constitutional deficiencies, the bailout establishes a dangerous precedent enabling the Fed and/or Government to nationalize virtually any business or property within the United States without legal authority or congressional approval.
The defendants include the Federal Reserve System, Fed Chairman Ben Bernanke, the U.S. Treasury, Treasury Secretary Hank Paulson Jr. and the United States Government.
Here is their website: http://www.givemeliberty.org/revolution/
any updates on this??
I mean this is big.. if the gov. is finally being taken to task for its blatent thievery....
bump! This is good news,
bump!
This is good news, isn't it?
Digg This!
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I liked it so much I dugg it (#67 I think).
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Where is the direct link? I
Where is the direct link? I don't see anything from their page.
Here
http://www.wethepeoplefoundation.org/Update/Update2008-09-18...
I'm no financial expert, but
I'm no financial expert, but I think this is terrific news. I applaud this guy for his actions. Just today I had been wondering if 'We the People' had the legal authority to sue the FED over their actions. I posted the thought here on DP but I got busy at work and never followed up with the post to see if anyone replied to my comment.
I can't believe the FED has the audacity to use taxpayer money to bail out companies who were involved with screwing over so many Americans with Sub-Prime mortgage loans. If the FED is willing to save these companies, then at the very least the FED should step in and help all the Americans who are losing their homes due to the fraud committed by these organizations. The thought of us (the taxpayer) bailing out the companies that created the problem in the first place, all the while having to suffer the consequences at the gas pump, supermarket, employment rate, etc., is ridiculous.
And if I wanted to be a little selfish... I made some bad investments by taking out student loans and never finishing school. Those debts seem like they will haunt me forever. I want the FED to come bail me out and use some of that printed money to wipe away that daunting bill.
Props to this guy who has the courage to stand up to these financial giants. We should all rally behind this person and offer any support that we can.
If they can sue for AIG
can't they stop all the bailouts ? I mean come on the fed has no right to do any of this they are a private company. Bernanke has no authority to do anything he is doing ? He wasn't elected by anyone !
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Stop the NWO....It's just illumi..Naughty !
bumping
My heart belongs to Ron Paul, but for now my ass belongs to Chuck Baldwin, www.baldwin08.com
it. Sign the petitions, let's gooooooooooooooo!!!!!
Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine
The R3volution requires action, not observation!!!!
Hear Hear!
Bump and sign the petitions if you have not already!
Long live the Republic ! !
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"Aggressive wars, income taxes, national IDs, domestic spying, torture regimes, secret prisons, Federal Reserve manipulation -- we don't have to take it any more." -- Ron Paul
I think we should proceed with this particular bailout as the
alternative is so devastating to us...I just think that "We The People" should own the 80% instead of "The Government" after all its our money- and I expect profit shares.
Live Free or Diebold
How can you support the bailouts?
This is supposed to be a free market society. Companies must be allowed to fail. Yes, it will be painful, but they should have been more careful with their lending. The tax payers should not be responsible for their greedy mistakes.