The framers created the Commerce Clause of the Constitution precisely to prevent local and state governments from strangling free trade among the states. But the framers left it up to Congress to decide when to pre-empt state authority. Therefore the Frank-Obama plan is probably not unconstitutional. It merely overturns an 1864 judgment made by Abraham Lincoln and Congress that has allowed a national market in banking to flourish ever since.
The Frank-Obama rewrite of the National Bank Act would give state AGs the kind of enforcement power that even Mr. Spitzer, the former New York enforcer, probably never imagined. Not only could 50 attorneys general sue to enforce their new state laws; they would also gain the power to enforce federal laws. So even a practice deemed legal under federal law by federal authorities would still be open to 50 other interpretations, with the inevitable cost and confusion that would result.

Don’t worry, Government would never try anything so stupid, ever, I promise. Until next week.

Or now.

another faction, more subtle and wise in the unscrupulous ways of power, took great offense at the “general welfare” clause. they saw it as a perfect means for future power-hungry pols to get their noses under the tent. sadly, they lost that fight. same goes for the ‘commerce’ clause.

or maybe it doesn’t matter. the 1st and 2nd amendments are crystal clear – “congress shall make no law limiting” – and we now are the proud owners of gun control, and speech control. all with the blessing of the SCOTUS – even though the constitution doesn’t give them that power. politicians and lawyers are like cockroaches: they never quit trying, and they can squeeze themselves into the slimmest of openings. you watch: in a generation or less, there’ll be licenses and fees that have to be paid in order to blog. hearings will be held on whether the proposed blog will ‘serve the community’ in approved ways.

crazy? naaah. you could buy heroin and cocaine at the drugstore in 1912. kids ran down to the saloon to buy a bucket of beer for pop in the ’30′s. you could buy rifles (and handguns?) through the mail as late as 1963. i made many trips to the gas station to buy ciggies for my pop in the ’70′s. kids in cars rode in mom’s lap, or sometimes (the horror!) standing up on the seat until the 80′s. and on and on. i’m willing to bet the commerce clause was used as the rationale to make illegal all those once-innocuous behaviors. and blog posts cross state lines….