The Market-ticker is reporting on this.
From 4closurefraud.
They have this on their site:
The word is out that Pres. Obama’s pocket veto of the Digital Robo-Signing Act was actually a trick. Sen. Harry Reid didn’t actually adjourn the U.S. Senate. The Senate has been kept in session by a little understood ruse and the bill will become law tonight at midnight without the President’s signature.
The big banks will file suit after the election to have this bill declared to be law.
Article I, Section 7 of the U.S. Constitution seems to support this view.
Some drunken bankers were already bragging about this an some major news outlets, including Fox News have reported on this.
I do not believe tonight at midnight is the deadline for this as stated in the email above.
I believe it is Tues Oct 12th. (10 days from when presented not including Sundays)
I do not have a warm and fuzzy feeling about this because the session is still open.
See http://www.opencongress.org/ Senate Light is Green and Says “In Session”
Did some research and this is what I have come up with so far…
Some Background info.
A pocket veto is a legislative maneuver in United States federal lawmaking that allows the President to indirectly veto a bill. The U.S. Constitution requires the President to sign or veto any legislation placed on his desk within ten days (not including Sundays) while the United States Congress is in session. From the U.S. Constitution Article 1, Section 7 states:
If any Bill shall not be returned by the President within ten days (Sundays excepted) after it shall have been presented to him, the same shall be a Law, in like manner as if he had signed it, unless the Congress by their Adjournment prevent its return, in which case it shall not be a Law.
If the President does not sign the bill within the required time period, the bill becomes law by default. However, the exception to this rule is if Congress adjourns before the ten days have passed and the President has not yet signed the bill. In such a case, the bill does not become law; it is effectively, if not actually, vetoed. If the President does sign the bill, it becomes law. Ignoring legislation, or “putting a bill in one’s pocket” until Congress adjourns is thus called a pocket veto. Since Congress cannot vote while in adjournment, a pocket veto cannot be overridden (but see below). James Madison became the first president to use the pocket veto in 1812.[1]
The White house had released this statement from Obama regarding it
Presidential Memorandum--H.R. 3808
It is necessary to have further deliberations about the possible unintended impact of H.R. 3808, the "Interstate Recognition of Notarizations Act of 2010," on consumer protections, including those for mortgages, before the bill can be finalized. Accordingly, I am withholding my approval of this bill. (The Pocket Veto Case, 279 U.S. 655 (1929)).
The authors of this bill no doubt had the best intentions in mind when trying to remove impediments to interstate commerce. My Administration will work with them and other leaders in Congress to explore the best ways to achieve this goal going forward.
To leave no doubt that the bill is being vetoed, in addition to withholding my signature, I am returning H.R. 3808 to the Clerk of the House of Representatives, along with this Memorandum of Disapproval.BARACK OBAMATHE WHITE HOUSE,
October 8, 2010.
So the question is now.... is it, or isn't it vetoed? Will the veto stand? Or did they do it this way, so it will NOT stand? Did Obama veto it, knowing it will not stand?
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