The leadership failure was and is in the Congress. Elected and appointed officers of government and elected representatives of government being of good conduct and putting the best interests of running government and the nation ahead of party politics and personal advancement of gaining stronger political power and taking advantage of position of elected office to gain wealth. The current economic crisis is a result of too many representatives in the house and senate not responding to the value of the people who elected them but rather giving stronger allegiance to party and their own self interest to further their political career, political influence for their personal gain. The problem begins with the lack of being of good character of many representatives in the house and senate and the better solution to fix this mess depend on elected members of the House and Senate remaining faithful to the system of government the U.S. Constitution put in place that protects individual rights and limits government intrusion into nationalizing private enterprise and private business.
Government 101 is three branches of government. The Legislative and Executive (2 of 3) branches have direct influence and oversight of economy, banking, commerce, trade and all the activities that cause employer worker relations to flourish and profits and losses from investments possible.
The first bill considered by the first Congress was a bill to raise revenue to pay the expenses of the Government. Thus first act of Congress after signing of the U.S. Constitution on September 17, 1787 concerned taxes.
On July 21, 1789, member of the House of representative, James Madison, proposed amendments of the Constitution securing to the citizens guarantees comprehended in the first ten (10) amendments more familiarly known as the Bill of Rights. So closely connected to being part of the original U.S. Constitution many people presume they were signed concurrently with the signing of the U.S. Constitution on September 17, 1787. However, the first ten amendments passed Congress on September 25, 1789, were subsequently ratified by eleven states on December 15, 1791 and Secretary Jefferson announced the adoption on March 1, 1792.
Pertinent to the current economic crisis is the Fourth, Ninth, and Tenth Amendments are very applicable as the solution will result in changes in regulatory oversight and dangers of government encroachments of Congress
The Fourth Amendment guarantees the security of the people in their persons, houses, papers and effects against unreasonable searches and seizures. Scrutiny of the Federalist Papers and other writings of the time disclose the fourth amendment resulted from concerns the government shouldn’t have power to invade privacy through use of general search warrants.
The Ninth Amendment clearly indicates the Federal Constitution is but a delegation of powers to include implied powers not specifically identified, but that the people also retain many rights which are not enumerated, and the Government has no power to interfere with these rights. This certainly identifies a primary purpose for why a Judicial Branch to include Supreme Court exists. It’s purpose is to determine the demarcation between implied powers of government and the not enumerated rights of the people when implied power of government and rights of the people get into conflict of needing decision if government has the power or not.
The Tenth Amendment is vitally important in preserving the powers of the States and the people against encroachment by Congress.
Regarding the current crisis it is Congress that has the power to determine how much the power of government needs to encroach into private business, private banking, and private investments. Care needs to be taken on the degree of encroachment as too much encroachment (grab of power) will result in the involvement of the judicial branch of government as there are Constitutional concerns if the power grab is extraordinary or excessive.
Consider the original Bush plan, it seems to me intent was to avoid extraordinary or excessive encroachment of government power. Either case the Congress controls the budget and the monies and the problem will take several fiscal years to fix and thus it was and is Congress having the ultimate decision making authority to approve or disapprove the spending plan as future budgets are not even yet drafted.
Congress, yes it is the actions and inaction of Congress that contributed most to causing this crisis. Yes--corruption, greed, incompetence and negligence on Wall Street is the most visible cause, but when the cat is away the mice will play very appropriately describes what Congress’s responsibility in this mess is.
Congress needs to act and it needs to do so in a unified cooperating bipartisan as the solution is not quick and requires more than one Band-Aid at one point and time. The problem requires a dressing that needs to be changed as the problem gets fixed. This is why certain politicians with their blame and point the finger speeches of hatred and got to keep my power speeches has me considerably upset. They can disagree and fight for change, but the nation doesn’t need the Democrats must be in power or the Republicans must be in power, it needs elected official working together in the best interest of the Nation. There is also very clearly a few elected officials who lack the education, experience, and common sense to even be there productively contributing to the solution, and quite frankly are more valued members of idiots-and-fools-are-us rather than of the House and Senate.
The law making power and the approval determining power of where revenue collected to run the government goes is the Congress. The power to make laws (to regulate, write and approve public laws/statutes) cannot be delegated by Congress to the top executive officer government (The president) any other elected or appointed officer of an executive department or administrative office. But Congress can vest in executive officers the power to make necessary rules and regulations to enforce law. Consequently there are limits on how much money the President and executive departments can divert from intended budgeted appropriations without getting some sort of consent from the Congress. The President can only make rules and regulations within intent of already established Constitutional and Federal Law.
The failure of leadership in this financial crisis is within the committee and party leadership in Congress. Time to let your representatives know it’s is time for them to honestly earn their paycheck by doing the work of government in the best interest of the nation rather than for their personal benefit or political party’s benefit.