This column presents facts regarding the United States Constitution, the Declaration of Independence, the Wisconsin State Constitution, and various other documents in reference to modern topics. Mark hopes to encourage interest in those works so that others can consider whether our government is practicing within its constitutional limits. In the last category, he may indicate his opinion. Mark is a resident of New Berlin. Readers are encouraged to visit the following sites for more information on the United States Constitution and Thomas Jefferson's views on politics and government.
Acccording to US Senator Jack Reed’s website; August 4, 2011
WASHINGTON- In an effort to help stabilize the housing market, provide relief to those hit hardest by the housing crisis, and boost the economy, U.S. Senator Jack Reed (D-RI) urged the Federal Housing Finance Agency (FHFA) to come up with a solution that would create value at Fannie Mae and Freddie Mac by converting foreclosed homes into affordable energy efficient rentals that could be pooled together and eventually sold to investors as income producing rental properties.
In a letter to FHFA Acting Director Edward J. DeMarco, which follows a similar letter sent late last year to the Secretary of Housing and Urban Development Shaun Donovan, Reed questioned why so many homes across the country remain vacant while thousands of families are in dire need of housing and urged the agency to take a closer look at the problem in order to create a solution that will benefit those who have been hurt by the housing crisis, reduce foreclosure inventories, and create jobs in some of the hardest hit industries.
Reed’s proposal seeks to increase the resale value of these foreclosed homes for Fannie Mae and Freddie Mac by turning them into profitable rental units that could be sold to the private sector. Additionally, by calling for the retrofitting and renovation of these homes, much needed jobs would be created during these tough economic times.
“Rather than selling these vacant foreclosed homes at fire sale prices, we should be seeking ways to increase value for Fannie Mae and Freddie Mac. This proposal offers one way to do just that,” concluded Reed.
A US Senator’s Oath of office vs. The US Constitution
US Constitution, Article I, Section 8 (The Powers of Congress)
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;
To establish Post Offices and Post Roads;
To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries;
To constitute Tribunals inferior to the supreme Court;
To define and punish Piracies and Felonies committed on the high Seas, and Offenses against the Law of Nations;
To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;
To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years;
To provide and maintain a Navy;
To make Rules for the Government and Regulation of the land and naval Forces;
To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions;
To provide for organizing, arming, and disciplining, the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress;
To exercise exclusive Legislation in all Cases whatsoever, over such District (not exceeding ten Miles square) as may, by Cession of particular States, and the acceptance of Congress, become the Seat of the Government of the United States, and to exercise like Authority over all Places purchased by the Consent of the Legislature of the State in which the Same shall be, for the Erection of Forts, Magazines, Arsenals, dock-Yards, and other needful Buildings; And
To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof.
We the People:
Federal agencies administered the subprime interest system that lead to the housing market collapse that triggered the greatest financial crisis since the great depression. Still these US Senators trust the federal government. The founders did not. That is why they limited the powers of Congress to those listed above; and left the rest to the people and the states. Despite their oaths of office, many Senators are not accustomed to such restraints. Are they doing this out of compassion, or for votes and power, or do they just like spending other people’s money?