Isn’t there something in the Constitution about ex post facto laws and bills of attainer?
opps... spelled that wrong... anyway - any constitutional experts out there?
Of course there is and any that want to challenge this quietly in court will be able to get their funds back, perhaps with damages, but the law isn't really meant to deny them what the Feds originally allowed them to be contracted for on compensation.
The legislation is so the Senate and House can be made to look like they are doing something to protect taxpayers from their stupidity in electing them.
These bonuses paid to the guys in the Finacial Group that caused the Credit Swap mess was because few but they could untangle the mess of detail that would make it possible for the TARP money to be used to protect EU bankers. It was for them to stay around from their previously poisonous operation so the government could use our money to help bail out EU and Asian bankers that Dodd and Barney wanted protected.
They are just playing the shell game.
Constitution? How quaint!
Article 1 Section 9, Limitations of Congress
This Congress is only limited by its imagination! weeee what a fun ride!
The Congress is prohibited passing Bills of Attainder and Ex Post Facto Laws by Article I, Section 9, Clause 3 of the Constitution (the same prohibition applies to the States via Article I, Section 10, Clause 1).
The Democrats are getting creative in their Constitutional violations. Maybe they can violate the Port Preference Clause, the Export Clause or the Third Amendment next.