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424 - When Did the Federal Reserve become the National Treasury?
Manage episode 421784065 series 3070461
Article I, Section 9, Clause 7 of the Constitution states “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law;” That seems pretty straight forward. So how could Congress establish a government agency funded not by appropriations from the treasury, but by fees paid to another federal entity? This was the question brought to the Supreme Court in the case CFPB v. Community Financial Services Assn. of America. Sadly, it seems that the Supreme Court once again showed they have a hard time reading and understanding the English language.
106 قسمت
Manage episode 421784065 series 3070461
Article I, Section 9, Clause 7 of the Constitution states “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law;” That seems pretty straight forward. So how could Congress establish a government agency funded not by appropriations from the treasury, but by fees paid to another federal entity? This was the question brought to the Supreme Court in the case CFPB v. Community Financial Services Assn. of America. Sadly, it seems that the Supreme Court once again showed they have a hard time reading and understanding the English language.
106 قسمت
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