Where Was the Constitution in the Bailout Debate?

Congress’ powers are enumerated in Article I, Section 8 of the Constitution. A number of specific powers are listed (e.g., coining money, establishing a post office, raising armies), but nothing is mentioned about intervening in private markets and managing large portfolios of assets...

Americans should be concerned that a constitutional discussion was completely absent from the national debate about the bailout package. The EESA is the largest government intervention in the private economy in the history of the United States—it makes FDR’s New Deal and President Truman’s seizure of the steel mills look like Mickey Mouse.

Constitutional consideration? Who does this guy think he is? Ron Paul? No, he's William J. Watkins Jr. and he brings up a quaint old artifact from long ago.