It should never be said that "W" & his boyz aren't ballsy!
A critical - and radical - component of the bailout package proposed by the Bush administration has thus far failed to garner the serious attention of anyone in the press. Section 8 (which ironically reminds one of the popular name of the portion of the 1937 Housing Act that paved the way for subsidized affordable housing ) of this legislation is just a single sentence of thirty-two words, but it represents a significant consolidation of power and an abdication of oversight authority that's so flat-out astounding that it ought to set one's hair on fire. It reads, in its entirety:
"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."
In short, the so-called "mother of all bailouts," which will transfer $700 billion taxpayer dollars to purchase the distressed assets of several failed financial institutions, will be conducted in a manner unchallengeable by courts and ungovernable by the People's duly sworn representatives. All decision-making power will be consolidated into the Executive Branch - who, we remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to do so accountable.
From: <http://www.huffingtonpost.com/2008/09/22/dirty-secret-of-the-bailo_n_128294.html> --On Tuesday, September 23, 2008 7:41 AM -0500 R C Macaulay <[EMAIL PROTECTED]> wrote:
Howdy Vorts, One can accept that liars can figure while figures don't lie.. well.. errr.. until we listen to Sec. Paulson explain how wonders can equal numbers while eating cucumbers... or numbers can perform wonders.. or.. err.. maybe I am just suspicious when anybody starts "explaining" how some poker chips just happened to fall off the table into sum'buddy's boot... but.. well,, the poker chips aren't real money.. err.. I mean.. well .. err.. we really don't know what the different chip colors mean because some may be counterfeit and some may belong to the saloon across the street.. but trust me.. We can get it all straightened out if the Dime Box Saloon bartender will sign this piece of paper.. well.. err.. yes, the amount is not filled out because we have some trustworthy people working on the numbers. We have the most experienced people working on it.. people that have been in Wall street for years and know how to solve problems like this.. trust me. Oh! Don't forget when you sign at the bottom to read the fine print on the back.. it's a guarantee and insured by AIG. THis is what happens when Ivy League people neglect to read ole Nick Machivelli's book. Richard
