The government bail-out...
Sep. 21st, 2008 12:04 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
mouseferatuThe complete text of the proposal for the bail-out plan can be found at the New York times, here.
However, you needn't necessarily read the whole thing. There are just two salient points I want to bring up. These are copied and pasted, without change except for emphasis:
That's a hell of a lot of money. Now, let's jump ahead to section 8.
I want you to reread the section I've bolded. Then reread it again.
And then tell me if this is the government any of us meant to elect in the past few elections, no matter who you voted for.
However, you needn't necessarily read the whole thing. There are just two salient points I want to bring up. These are copied and pasted, without change except for emphasis:
Sec. 6. Maximum Amount of Authorized Purchases.
The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time
That's a hell of a lot of money. Now, let's jump ahead to section 8.
Sec. 8. Review.
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.
I want you to reread the section I've bolded. Then reread it again.
And then tell me if this is the government any of us meant to elect in the past few elections, no matter who you voted for.
