Tuesday, September 23, 2008

Politics Part 2

reason #1 why i am scared of this current stock market bail-out plan:

"The Bush administration's plan would grant the Treasury secretary nearly absolute control of the $700 billion authorized by the bailout measure. The language in the measure sent to Congress would make the Treasury secretary's decisions "non-reviewable" – including by "any court of law or any administrative agency."
Jon Macey, a professor and deputy dean of Yale Law School, says the bill contains the largest transfer of power from Congress to the administration that he has ever seen. Macey says Congress is handing over more power than it did in granting the executive branch leeway in the Patriot Act, more than when authorizing combat through the War Powers clause. He says the move amounts to a sidelining of Congress.
Senate Banking Committee Chairman Christopher Dodd, a Democrat from Connecticut, on Tuesday called the language "so troubling" and said it "cannot last" as part of the legislation.

this is from NPR and the rest of the info in this article is pretty bleak, but well worth a read for information about the latest swindle the Bush administration is trying to pass off for a "plan."  it is good to see non-partisan support against it.  

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