Wednesday, 24 September 2008

Bush's 700 billion dollar bailout

Inside the text of the bailout package proposed by the Bush administration is this clause:

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.
If the package gets passed with this clause intact then it will be very clear that what passes for government in the US is no longer in charge. This places way too much power in the hands of one individual without any oversight. If I had any funds left in the US (who does?) then I would be withdrawing them ASAP.