Winston
Platinum Member
Well then, it appears the FDIC is unconstitutionally funded.She's right, of course as anyone with half a brain knows.
But the hypocricy is stunning. Faux-cahontas invented and pushed through a government agency funded entirely by printing money, which was kept off hte books, with no input from congress.
The Fifth Circuit then identified two features of the Bureau Fund that, in the court’s view, show Congress abdicated this duty. The first and “[m]ost anomalous” evidence was the Bureau’s power to requisition funds from the Federal Reserve, a “self-actualizing, perpetual funding mechanism.” According to the court, Congress ceded both “direct control over the Bureau’s budget by insulating it from annual or other time limited appropriation” and “indirect control” by drawing Bureau funding from Federal Reserve earnings, which are themselves “outside the appropriations process.” The second problematic feature of the Fund identified by the court was how Congress structured the Fund. In the Fifth Circuit’s view, the Fund is “off the books” because it is allegedly not a “Treasury account” but a “separate” account at a Federal Reserve bank. Fund amounts are available to the director upon transfer, do not expire, are not government funds or appropriated monies, and are not reviewable by the Appropriations Committees. The Fifth Circuit wrote that these provisions resulted in Congress “relinquish[ing] its jurisdiction to review agency funding,” as well.
Now, she has the nerve to act surprised?