Section 8 of the proposed rich-guy-bail-out bill says, "Decisions by the Secretary [of the Treasury] 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."
Hold on there, pardner!
Bush wants his political appointee to have unfettered access to $700 billion without any accountability whatsoever. The Secretary of the Treasury need only submit reports every six months -- his first report is due three months after he gets this authority and begins doling out our cash for mortgage-related assets.
This is outrageous! I'm hesitant in shelling out this money to prop up companies that have paid executives millions and millions in bonuses, severance packages, and other amenities to take advantage of the American people, to the detriment of the stockholders, many of which are pension funds and other assets of hard-working people.
Tell your Congressional delegation how you feel about giving George Bush $700,000,000,000 without any oversight. E-mail your Congress people by clicking this link.
Posted by Bill at September 22, 2008 06:03 PM