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POPSHealth Care Bill Could Face String of Legal Challenges “I don’t believe Congress has the legal or moral authority to force this mandate on its citizens,” Ensign said in a statement, raising what’s known as a “constitutional point of order.” Such procedural challenges are rare and typically lead to a vote. The non-profit Fund for Personal Liberty, as well as a Virginia-based group called the 10th Amendment Foundation, already have threatened to file suit in federal court over this issue if the health care bill passes. The Constitution allows Congress to tax, borrow, spend, declare war, raise an army and regulate commerce, among other things. Proponents of the insurance mandate point to the Commerce Clause in arguing that Congress is within its rights to require health insurance and dismiss such potential legal challenges. But foes say the across-the-board requirement is too broad.
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POPS Obama Banking Bill Passed by US House mortgages of financially struggling borrowers was defeated. David Hirschmann, a director of the US Chamber of Commerce, said: “While there is a laundry list of bad choices that were made by the House, the creation of the CFPA tops the list.” However, he said he was encouraged by the “growing group of moderate Democrats” who helped amend the bill to prevent states from setting tougher consumer protection standards. Another provision that has been resisted by banks allows regulators to impose a loss on creditors of failing financial institutions that need to be seized by the government. After stark warnings that the provision would make credit less liquid and more expensive, the size of the “haircut” to be imposed on creditors was reduced to up to 10 per cent and some securities were exempted. But it stayed in the bill. Read full Financial Times article at http://bit.ly/8SGlGW Copyright The Financial Times Limited 2009
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