finally someone who can shed some light on the legal mumbo jumbo in a language
the wrench turner can understand....i'll be joining you ken in the
corner...now what did i do with joes checkers.....
--- Ken Gano <triumphs@mcleodusa.net> wrote:
>
> I think I must take issue here. That is not an accurate statement of either
> the constitution or the present state of the law on banking. The original
> transaction under discussion was (probably) in interstate commerce and the
> federal government has always, and traditionally regulated all aspects of
> interstate commerce and any intra state commerce affecting or impacting
> interstate commerce. Good golly, that goes back to the milk subsidy cases
> from the New Deal.
>
> I have spent the last ten years as bank counsel for a small chain (4
> locations) of rural banks in downstate Illinois. I can say without
> hesitation that the federal regulation is overwhelmingly more pervasive than
> state regulation. Although I have not the inclination nor desire to cite
> chapter and verse, I can say without hesitation that consumer credit
> practices are already regulated from Washington.
>
> If we wanted to turn this into a hot political debate, (which, for the
> record I don't!) get me started on "Governor" Clinton. Although I mostly
> agree with the policies of the administration, I can find major fault with
> the invasion of traditionally states rights issues (adoption and divorce for
> Christ sake!) by the federal government. States rights used to be the
> conservatives issue, but more and more the left is embracing it as the
> federal government continues it's cancerous growth. Anyone who wants to
> blame that growth on the last two terms need only compare the growth for the
> 12 years prior to that. Big government isn't the curse of the Democrats,
> (solely) anymore. To suggest that the bank practices complained of in the
> original post is (in 1999) an issue for state regulators or that federal
> regulation would be some how unconstitutional is simply incorrect. Whether
> you agree with it or not, the fact remains that the practices the original
> poster was gripping about would be taken up at the federal reserve, not at
> the state banking authority.
>
>
> Ken Gano
> (already heading to the corner with flame suit on)
>
>
> -----Original Message-----
> From: owner-triumphs@autox.team.net
> [mailto:owner-triumphs@autox.team.net]On Behalf Of Jim Davis
> Sent: Monday, October 04, 1999 11:03 PM
> To: Robert M. Lang
> Cc: amdixon@erols.com; triumphs@autox.team.net
> Subject: Re: TRF Nightmare
>
>
>
> Bob,
> I agree that banks and most other financial institutions are greedy and
> poorly regulated in respect to protecting the average banking customer.
> However the states, not the federal government regulate banking
> practices within their borders. Local legislators should and would be
> more responsive if citizens would contact them with their local concerns
> instead of expecting relief from the federal government on matters to
> which the constitution gave Washington no authority. Being from New
> England, a state representative must reside in your town or very close
> by. Contact them and let the federal representatives concern themselves
> with truly national concerns like providing for our common defense and
> regulating international trade.
> I don't want Ted Kennedy & Barney Frank having much to do with the
> internal affairs of GA, any more than most folks in MA want Bob Barr or
> Paul Coverdell having anything to do with affairs in their state.
> I guess your statement touched a sore place with me,
> Jim Davis
> Fortson, GA
> CF38690UO
> CF37325U
>
> >... and I'm appalled that our wonderful
> > lawmakers in Washington don't do anything about it. The banks are just
> > plain greedy...
>
>
=====
larry (I hope someday to Drive my triumph) hooven 1979 spitfire fm99248u,
http://www.geocities.com/MotorCity/Speedway/9311/index.html
"Second place is just the first loser" -John Force
"A postitive attitude may not solve all of your problems, but it will annoy
enough people to make it worth the effort" - herm albright
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