Johnny Narcoe

Federal District Court Obstructs Lawsuits

Yesterday, while ignoring the dissimilar legal issues raised in the two lawsuits, the U.S. District Court issued an Order combining the two cases into a single case and denying the applications for injunctive relief requested.  The Court, in effect, ducked a judicial (and very public) hearing to examine the critical legal question at the heart of the bailouts: What Constitutional authority exists for the U.S. Government or Federal Reserve to use public (taxpayer) funds for definitively private purposes?

Again, what legal authority allows the U.S. Government to directly purchase the distressed assets and contracts of privately owned Wall Street firms for the express purpose of mitigating their private investment risks and losses?  

Together, the lawsuits assert that the commitment of public funds and credit for the direct benefit of privately owned banks is an ultra vires act by the United States Government and Federal Reserve, i.e., beyond the limited legal authority granted by the Constitution. Both lawsuits had asked for a "show cause" hearing demanding that the Government defendants produce evidence of their alleged legal authority to commit public funds for such purposes, as well as emergency and permanent injunctions halting the bailout efforts.

Specifically, the second lawsuit charges that Congress lacks any Constitutional authority to grant the Executive any legal authority to directly participate in commerce as a buyer or seller of private property (as opposed to "regulating" commerce) and that Congress also lacks any authority to utilize public (taxpayer) funds for definitively private, i.e., non-public purposes. The first lawsuit charges the Government has no authority to use public funds to guarantee a loan between the privately held insurance firm AIG and the privately held Federal Reserve Bank.  

Despite Schulz’s extensive federal litigation experience, the Court’s Order (erroneously) claims that the lawsuits fail to provide any "citation to authority or an explanation of this court’s jurisdiction, except conclusory statements of the law…" 

One unnamed practicing attorney also with several decades of federal litigation experience agreed that the District Court’s basis for denying the injunction hearings was contrived to provide cover to block any public, judicial examination of the highly controversial constitutional questions raised by the bailouts adding, "If the Court had dared sign that request, all those cameras now in Washington would immediately be up here in New York."

Schulz plans to file an emergency appeal to the U.S Court of Appeals for the Second Circuit in Manhattan on Monday, challenging the lower Court’s improper dismissal of the requests for Temporary and Permanent injunctions.

Click here to read:  Bank Bailout Complaint
                             Bank Bailout Memorandum of Law
                             Press Release 9-25-08
                             U.S. District Court Order
denying injunction requests to stop the bailouts
                             Last week’s WTP
AIG lawsuit update

On Wednesday, We The People Foundation issued a press release regarding the second lawsuit.  In part, it cites Schulz:

"Beyond the moral hazard and dangerous precedent to be established by this legislation, it is of vital importance that the American people recognize that the present financial crisis is not the result of ineffective regulatory oversight or defective government policy but rather a direct and predictable result of decades of constitutional violations by the Federal Government.  Through a long-standing program of disinformation and collusion with the Federal Reserve and Wall Street financial elite, the United States Federal Government has denied the public access to vital information about the secretive operations of the privately owned and operated Federal Reserve System and its monopoly control of America’s monetary system."

"This monopoly control of our currency by a private banking cartel is the root cause of the increasingly distorted, volatile and damaging economic conditions experienced in the U.S. and abroad.  America’s fiat currency is produced from thin air and manipulated by the Federal Reserve for the benefit of its private owners, major Wall Street institutions and to enable the numerous unconstitutional activities of the Federal Government.  Beyond this, the Fed’s vast operations are substantively beyond accountability to the taxpayers or the Congress. These abuses of the Constitution have taken our financial system to edge of the abyss. The chickens have come home to roost."

Since 2002, the We The People Foundation and its supporters have tried, thus far unsuccessfully, to get the Government to respond to a number of First Amendment Petitions for Redress of violations of the Constitution, including the Federal Reserve System’s violation of the money clauses of the Constitution. Had the Government honored the Constitution and its obligation to respond to the citizens’ Petitions for Redress, many of the nation’s current financial and monetary problems could have been avoided.
 

TIME TO FIGHT BACK:

The We the People Congress now encourages everyone to contact their Congressional representatives and tell them what you think about the bailout.

We strongly encourage personal phone calls and faxes, rather than emails. Don’t forget to call your representative’s local District offices located throughout the 50 states.

Click here for a .txt file of FAX numbers of Senators and Representatives.

Click here to find local phone numbers and other Congress contact information
(lookup info by map, zipcode, etc.)

Here’s the main Capital Switchboard number in Washington: 202-224-3121

Here are the TOLL FREE Capital Hill switchboard numbers:
1-877-210-5351
1-800-828-0498

 

Revolution Resources:

Please go to www.GiveMeLiberty.org/revolution to:

   
  Help fund this critical
Liberty project!

Click here to obtain your
personal copies of the Petition Packages
served on the Government!

(Graphic is the actual cover of the
CD-ROM Petition package)


WTP Fundraiser!


As a fund raiser, we are now making available a high-resolution,
full-color poster marking WTP’s historic “V for Vendetta” DC 2007 Right-to-Petition protest event. Each poster is professionally printed on 80# pound, high gloss cover stock. 

The "16 x 20" posters are suitable for framing and are shipped in a sturdy shipping tube. 

Click here to make a donation
and receive this historic poster
.

Posters are $30 each, or (5) five for $100.

Click here for a larger preview.
Watch "V’s" powerful Freedom broadcast from the movie.

Please help support our organization and Plan For Freedom.
Order your posters today.
 

Federal District Court Obstructs Lawsuits

Yesterday, while ignoring the dissimilar legal issues raised in the two lawsuits, the U.S. District Court issued an Order combining the two cases into a single case and denying the applications for injunctive relief requested.  The Court, in effect, ducked a judicial (and very public) hearing to examine the critical legal question at the heart of the bailouts: What Constitutional authority exists for the U.S. Government or Federal Reserve to use public (taxpayer) funds for definitively private purposes?

Again, what legal authority allows the U.S. Government to directly purchase the distressed assets and contracts of privately owned Wall Street firms for the express purpose of mitigating their private investment risks and losses?  

Together, the lawsuits assert that the commitment of public funds and credit for the direct benefit of privately owned banks is an ultra vires act by the United States Government and Federal Reserve, i.e., beyond the limited legal authority granted by the Constitution. Both lawsuits had asked for a "show cause" hearing demanding that the Government defendants produce evidence of their alleged legal authority to commit public funds for such purposes, as well as emergency and permanent injunctions halting the bailout efforts.

Specifically, the second lawsuit charges that Congress lacks any Constitutional authority to grant the Executive any legal authority to directly participate in commerce as a buyer or seller of private property (as opposed to "regulating" commerce) and that Congress also lacks any authority to utilize public (taxpayer) funds for definitively private, i.e., non-public purposes. The first lawsuit charges the Government has no authority to use public funds to guarantee a loan between the privately held insurance firm AIG and the privately held Federal Reserve Bank.  

Despite Schulz’s extensive federal litigation experience, the Court’s Order (erroneously) claims that the lawsuits fail to provide any "citation to authority or an explanation of this court’s jurisdiction, except conclusory statements of the law…" 

One unnamed practicing attorney also with several decades of federal litigation experience agreed that the District Court’s basis for denying the injunction hearings was contrived to provide cover to block any public, judicial examination of the highly controversial constitutional questions raised by the bailouts adding, "If the Court had dared sign that request, all those cameras now in Washington would immediately be up here in New York."

Schulz plans to file an emergency appeal to the U.S Court of Appeals for the Second Circuit in Manhattan on Monday, challenging the lower Court’s improper dismissal of the requests for Temporary and Permanent injunctions.

Click here to read:  Bank Bailout Complaint
                             Bank Bailout Memorandum of Law
                             Press Release 9-25-08
                             U.S. District Court Order
denying injunction requests to stop the bailouts
                             Last week’s WTP
AIG lawsuit update

On Wednesday, We The People Foundation issued a press release regarding the second lawsuit.  In part, it cites Schulz:

"Beyond the moral hazard and dangerous precedent to be established by this legislation, it is of vital importance that the American people recognize that the present financial crisis is not the result of ineffective regulatory oversight or defective government policy but rather a direct and predictable result of decades of constitutional violations by the Federal Government.  Through a long-standing program of disinformation and collusion with the Federal Reserve and Wall Street financial elite, the United States Federal Government has denied the public access to vital information about the secretive operations of the privately owned and operated Federal Reserve System and its monopoly control of America’s monetary system."

"This monopoly control of our currency by a private banking cartel is the root cause of the increasingly distorted, volatile and damaging economic conditions experienced in the U.S. and abroad.  America’s fiat currency is produced from thin air and manipulated by the Federal Reserve for the benefit of its private owners, major Wall Street institutions and to enable the numerous unconstitutional activities of the Federal Government.  Beyond this, the Fed’s vast operations are substantively beyond accountability to the taxpayers or the Congress. These abuses of the Constitution have taken our financial system to edge of the abyss. The chickens have come home to roost."

Since 2002, the We The People Foundation and its supporters have tried, thus far unsuccessfully, to get the Government to respond to a number of First Amendment Petitions for Redress of violations of the Constitution, including the Federal Reserve System’s violation of the money clauses of the Constitution. Had the Government honored the Constitution and its obligation to respond to the citizens’ Petitions for Redress, many of the nation’s current financial and monetary problems could have been avoided.
 

TIME TO FIGHT BACK:

The We the People Congress now encourages everyone to contact their Congressional representatives and tell them what you think about the bailout.

We strongly encourage personal phone calls and faxes, rather than emails. Don’t forget to call your representative’s local District offices located throughout the 50 states.

Click here for a .txt file of FAX numbers of Senators and Representatives.

Click here to find local phone numbers and other Congress contact information
(lookup info by map, zipcode, etc.)

Here’s the main Capital Switchboard number in Washington: 202-224-3121

Here are the TOLL FREE Capital Hill switchboard numbers:
1-877-210-5351
1-800-828-0498

 

Revolution Resources:

Please go to www.GiveMeLiberty.org/revolution to:

   
  Help fund this critical
Liberty project!

Click here to obtain your
personal copies of the Petition Packages
served on the Government!

(Graphic is the actual cover of the
CD-ROM Petition package)


WTP Fundraiser!


As a fund raiser, we are now making available a high-resolution,
full-color poster marking WTP’s historic “V for Vendetta” DC 2007 Right-to-Petition protest event. Each poster is professionally printed on 80# pound, high gloss cover stock. 

The "16 x 20" posters are suitable for framing and are shipped in a sturdy shipping tube. 

Click here to make a donation
and receive this historic poster
.

Posters are $30 each, or (5) five for $100.

Click here for a larger preview.
Watch "V’s" powerful Freedom broadcast from the movie.

Please help support our organization and Plan For Freedom.
Order your posters today.
 

Bloomberg wants to change NYC law, seek 3rd term

Bloomberg made the decision over the weekend and will announce it Thursday, according to the person, who spoke on condition of anonymity because the announcement hasn’t been made. The person said the mayor has been wrestling with the decision for the past couple of months.

The billionaire former CEO will cite the nation’s precarious economic situation as the reason that New York needs a tested financial manager to stay and guide the city, the person said.

A former Wall Street trader who founded the multibillion-dollar financial data firm Bloomberg LP, the mayor is reported to be worth an estimated $20 billion.

News of Bloomberg’s decision was first reported by The New York Times.

The move is risky because the mayor would be going against both his own prior support of term limits and polls that show the public supports them.

When Bloomberg vetoed a bill in 2002 that would have extended the terms for some officials, he said the proposed law was wrong because it amounted to changing the rules for personal political gain. In recent months, however, the Democrat-turned-Republican-turned-independent hinted that he’d be willing to overturn the measure.

Bloomberg’s change of heart comes amid the nation’s worst financial emergency since the Great Depression. The turmoil has dealt a serious blow to the city’s economy, which relies on heavily on Wall Street profits for its tax base.

The crisis had led at least one major supporter of term limits to support a third term for Bloomberg.

The New York Post reported Tuesday that billionaire cosmetics heir Ronald Lauder, who spent millions on the referendum that led to the enactment of the two-term limit in 1993, was willing to make a one-time exception so Bloomberg could run again.

"I’ve been reading that Mayor Bloomberg might be interested in serving a third term," Lauder told the Post. "Because of the unprecedented times, this is welcome news. To me, Mayor Bloomberg’s brilliance in the financial sector, particularly Wall Street, would be invaluable."

Just weeks ago, Lauder’s spokesman announced that he would bankroll television commercials arguing that term limits were still needed. Lauder’s office and his spokesman didn’t immediately return calls from the AP on Tuesday.

Chris Kelley, associate director of the government watchdog group Common Cause New York, accused Bloomberg of attempting to subvert the will of the voters.

"If there’s a discussion that needs to be had about term limits, the mayor has had years in office during which we could have had a public discussion," Kelley said. "We are now faced with a situation where we are looking at economic crisis and massive turnover at City Hall … and to make an end run around the voters’ choice is just incredibly disappointing."

Not even 9/11 swayed the support many New Yorkers have for the term-limits law.

With his second term nearly over, then-Mayor Rudolph Giuliani suggested overturning the term-limits law but ultimately decided against it. Even in the wake of the attacks, with Giuliani’s approval rating at 90 percent, one poll found that 55 percent of New York City voters opposed repealing term limits.

Any change in the law would send shock waves through the ranks of the city’s politicians, many of whom have been campaigning for different jobs, including Bloomberg’s. The law currently on the books will force the mayor from office at the end of next year, as well as the city comptroller, two-thirds of the city council and the city’s public advocate.

Democrats lining up to run for mayor include city Comptroller William Thompson, city council speaker Christine Quinn, U.S. Rep. Anthony Weiner and city councilman Anthony Avella. On the GOP side are supermarket magnate John Catsimatidis and lawyer Bruce Blakeman.

Bloomberg spent some $155 million on his first two campaigns, winning re-election by 20 percentage points in 2005.

John Collins, a spokesman for Weiner, said the news did not change the Queens congressman’s intention to run for mayor and "offer a vision of how to fight for the middle class and those struggling to make it."

"This is highly speculative," Collins added. "It’s illegal to run for a third term."

In 2006, Bloomberg scoffed at the notion that an individual could be truly irreplaceable.

"My experience in business has been, whenever we’ve had somebody who was irreplaceable, their successor invariably did a better job, and I think change is good," he said. "Yes, you throw out an occasional good person, but you also throw out a lot of people who have just gotten stale and take it for granted, haven’t had any new ideas, so on balance I’ve always been a believer in term limits."

Other mayors who have served three terms are Fiorello H. La Guardia, Robert F. Wagner and Edward I. Koch.

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