The Law: Of all the alarming things going on in Washington these days nothing is as shocking, or disheartening, as the collapse in respect for the rule of law and the Constitution.
Like most Americans, we found ourselves angry and perplexed about the AIG bonuses. Yet, while letting AIG pay some employees retention bonuses might seem wrong or even immoral to some, it wasn't illegal.
Yet Congress, which created the problem in the first place, acted with consummate cowardice by trying to "claw back" the money through a punitive, 90% retroactive tax, one specially levied on those who work at AIG. It wants to do the same thing with recipients of TARP money, too.
Why the big change? Public anger. Welcome to mob rule... [snip]
You don't have to like or agree with the AIG bonuses to understand that Congress is doing something it shouldn't under the Constitution. Once a precedent is set, Congress will be able to go after anyone or any group, at any time, for any reason...
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Wednesday, March 25, 2009
Mob Rule In D.C.
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