Today’s Thought on Capitalism and Freedom

No Bill of Attainder or ex post facto Law shall be passed.

Article 1, Section 9(c), United States Constitution.

Bills of attainder, ex post facto laws, and laws impairing the obligations of contracts, are contrary to the first principles of the social compact, and the every principle of sound legislation….The sober people of America are weary of the fluctuating policy which has directed the public councils.  They have seen with regret and indignation that sudden changes and legislative interferences, in cases affecting person rights, become jobs in the hands of enterprising and influential speculators, and snares to the more industrious and less-informed part of the community.

James Madison, The Federalist Papers #444, 1788

Denouncing a “squandering of the people’s money,” lawmakers voted decisively Thursday to impose a 90 percent tax on millions of dollars in employee bonuses paid by troubled insurance giant AIG and other bailed-out companies. The House vote was 328-93.

AP news, March 19, 2009

I look forward to receiving a final product that will serve as a strong signal to the executives who run these firms that such compensation will not be tolerated.

President of the United States, Barack Obama

We want our money back now for the taxpayers. It isn’t that complicated.

Speaker of the United States House of Representatives, Nancy Pelosi, D-Ca


3 Responses to “Today’s Thought on Capitalism and Freedom”

  1. trexmom Says:

    Is the President’s quote from tonight’s press conference? I listened and he was pretty down on the folks on Wall Street. And don’t even get me started on Pelosi.


  2. rich Says:

    It was taken from the AP story from last week that I quoted in the post.


  3. TRexDad Says:

    Two words: Mob rule.

    The Senate needs to kill this bill and let the AIG dorks get their millions. A contract is a contract, however ludicrous. Rule of law is all important.


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