Dirty Secret Of The Bailout: Thirty-Two Words That None Dare Utter

Boil ’em down to two: No oversight.

My response also takes two words: Hell no!

Of course, we don’t get a say, do we? We just pay up. No one wants to help my family in our economic crisis, but we’re expected to pony up to pay our share to make sure corporate welfare is covered.

This is not America.

From HuffPo:

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.”

You read. I am off to be sick.

Dirty Secret Of The Bailout


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