President Obama's proclamation on Monday that he "can't wait" for congressional action to help underwater homeowners raises two questions.

If he already had the legal authority to take action, then why did he wait?

Some may frame the second question this way: does Obama's plan exceed his constitutional authority?  Perhaps the better way to ask the second question is whether the Obama plan is unlawful.

Either way, I can't wait for Congress to conduct some oversight hearings before the plan kicks in.  This isn't just a figurative slap in the face to both Congress and the rule of law; this is a kick in the groin.