I've been reading text of the bailout legislation. I will not discuss in this blog whether I think that the idea is a good one or bad one, but I WOULD like to discuss some of the wording in the legislation.
What is up with Section 8?
"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."
Is anyone else uncomfortable with this? I know I am!
*********Addition***********
I thought I'd add these words from Thomas Jefferson as something to think about:
"If the American people ever allow private banks to control the issue
of their money, first by inflation and then by deflation, the banks
and corporations that will grow up around them (around the banks),
will deprive the people of their property until their children will
wake up homeless on the continent their fathers conquered." Thomas
Jefferson, 1802
Also, I think this lady has some interesting ideas.
2 comments:
Michael, Michael...
It's only a measly $700Gd (gigadollars). That wouldn't even pay for the war in Iraq for ten years!
And you're concerned that the 'lil ol' Secretary of the Treasury isn't going to spend it right?
Q. When was the last time a Sec. of Treasury misspent $700Gd?
A. Never!
Don't you feel better now? Sure he said Fannie Mae and Freddie Mac would be fine only two months before they came crawling back to the government... But he is a wiser, abler man now.
Excellent points. Ending my concern..................now.
ahhhhhhhh....I feel so much better.
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