Was the Constitution Considered in the Business Bailout?

Congress, through the Constitution, has the power to make laws that are necessary and proper for the execution of federal purposes. In October of 2008, the Emergency Economic Stabilization Act was passed. This bill gave the Secretary of the Treasury the authority to bail out and manage the assets from financial institutions.

The assets in question had resulted from government encouraged lending practices. Though debate over the EESA was lengthy and covered many issues, missing from that debate was any discussion of the constitutionality of the EESA. This debate also ignored the EESA's lack of direction regarding the Treasury Secretary's discretion in these matters.

Under the Constitution's separation of powers principle, legislative power cannot be exercised by members of the executive branch or the judiciary. Congress' delegation of power under EESA does not seem to comply with the separation of power as directed in our Constitution. There should be concern that there was no constitutional discussion in the debate regarding the bailout package. The Supreme Court should hear the argument that Congress cannot divest itself of the powers vested in it.

Especially in the tough times our country is experiencing right now, our leaders should protect our Constitution, not disregard the direction our forefathers gave us to govern this country. Our country, more than ever, needs to mend itself from this economic crisis. Each branch of our government, the executive, legislative, and judicial, should stand for and remember our Constitution and what it represents.