Following a conversation with U.S. House Rep. Mike Turner about the implications of the federal government "owning" General Motors, Coolidge Wall attorney Merle Wilberding, along with Susan Elliott, assistant professor and assistant director of the Zimmerman Law Library at the University of Dayton, began researching the issue of the legality of government taking ownership interests in private business.  Their weekend of research and writing spawned a two-page document containing language for a proposed amendment to the United States Constitution prohibiting the federal government from owning any equity interests in private businesses. Their language was based in part on similar provisions in a large number of state constitutions.   

 

Merle Wilberding and Susan Elliott gave their amendment proposal to Congressman Turner, who in turn submitted the text to the House Legislative Counsel for review.  With only minor changes, the language of a proposed constitutional amendment was born as H J Resolution 57 in the 111th Congress.  Congressman Turner has already received 103 co-sponsors for the proposed amendment.