Let me just say that:
- Giving the Secretary of the Treasury $700 Billion to spend as he will, without strings, oversight, review, or ramifications, sounds like an extraordinarily bad idea.
- Arguing that This Must Be Passed Right Now Without Debate, Add-Ons, or Anything Else is the same sort of “we invented this crisis, now you have to let us solve it, just trust us and sign the paperwork” high-pressure tactics the White House used on the PATRIOT Act — and we know how many odd little loopholes and unintended (and intended) consequences that had.
- If you’re going to bail out companies that have gambled the wrong way and lost (and that may well be necessary, bad precedent be damned), it’s as important to bail out people who gambled the wrong way and lost. Yes, “Main Street” as well as “Wall Street.” Not surprisingly, the Bush Administration is insistent that only the latter should be addressed (the bail out no doubt “trickling down” to the rest of us).
Or, put another way:
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.
That’s not how we should be doing business, let alone government. Indeed, doing business that way is what’s gotten us in trouble in the first place.
21 view(s)
So much for the free market mantra…and they want the ‘free market’ to manage our schools? yikes!
One of my acquaintances is a GOP supported and he railed Obama as being a socialist because of his tax plan. Now what exactly do you call this handout, i mean bailout(Freudian slip)
Not only is that lack of oversight a bad idea, I’d bet it’s unconstitutional. Our governement is SUPPOSED to have oversight of each other. Checks and balances, anyone? Sheesh!