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An alert activist just sent us this story from Bloomberg.
In one of the most brazen, unconstitutional power grabs in American history, Secretary of the Treasury Tim Geithner went before Congress on Tuesday to ask for broad powers to seize non-bank financial firms (such as AIG), power which he could exercise “in consultation” with the Federal Reserve and the President (for whom the Treasury Secretary works.)
Journalist and economist Henry Hazlitt, writer of Economics in One Lesson, comments on the role of property rights in the functioning of the price signals:
Over 1,000 attended an Orange Tax Revolt meeting on March 23. The focus of the meeting was “What We Can Do.” Numerous times throughout the meeting citizens chanted and waved signs stating “Tax Relief Now”! Speakers Tom Whisnant and Joe Phelps encouraged the group to stay determined and explained the revaluation appeals process. Attorney Cynthia Shriner explained the North Carolina statute regarding property tax revaluation. The group was encouraged to appeal their revaluations and to contact the commissioners to ask that the new property tax values be rescinded and that new tax rate be set below revenue neutral. Citizens were also encouraged to send letters to the editor of the local newspapers.The event drew local and national media attention with FOX news traveling from Atlanta. Earlier in the day, the FOX team interviewed Orange County manager Laura Blackmon and Orange county citizen Ned Rigsbee. Numerous local news stations and newspapers covered the event.
It looks like Senator Arlen Specter (R-PA) plans on voting against both cloture and passage of Card Check:Senator Specter's Office has confirmed to ATR that he will vote against both cloture and passage on the Employee Free Choice Act (also known as "card check" or the employee NO choice act). His vote is critical and this a major victory for freedom, as well as a stunning defeat for the other side.H/T Americans for Tax Reform Blog
Here is an interesting column written by Congressman Ron Paul (TX-14), making an extremely interesting case for the necessity of an AIG bankruptcy.
The Treasury released their plan on Monday to clean banks' balance sheets. A five page document distributed by the Treasury offers some limited details. It looks like the plan has the government becoming the largest hedge fund with potential to invest up to $970 billion in risky assets. $30 billion more will come from private investors who will, according to the Treasury, accurately price the assets because their own money will be involved.
We're another step closer! The important reform bill in the Georgia Assembly, HB 168, abolishing the Universal Access Fund has passed the House of Representatives and is headed for the Senate. The intent behind the creation of Georgia's Universal Access Fund was positive – keeping rural areas connected to digital services.
Montana's representatives have passed a sound money bill through the state's House. The bill would allow gold currency to compete with Federal Reserve Notes in the state. The bill reads, "the state may not require but shall allow a person to recognize, receive, pay out, deliver, promise to pay, or otherwise use or employ gold and silver coin or electronic gold currency as media of exchange."