D
dontknow772002
Guest
...check? Bush wants "bold, aggressive, action," and quickly, again. Haven't we seen this before? Crisis, panick, "solution."
NEW YORK - President Bush sought to assure anxious world leaders on Monday that the United States is taking "bold, aggressive, decisive action" to rescue the crisis-ridden economy with a $700 billion bailout package. "The whole world is watching to see if we can act quickly," Bush said, prodding lawmakers in Washington to approve his plan..."
more
http://news.yahoo.com/s/ap/20080922/ap_on_go_pr_wh/bush;_ylt=AhiZQk3QRU9tEn6DTBUP_gLCw5R4
"...UPDATE: Here is the current draft for the latest plan. It's elegantly simple. The three key provisions: (1) The Treasury Secretary is authorized to buy up to $700 billion of any mortgage-related assets (so he can just transfer that amount to any corporations in exchange for their worthless or severely crippled "assets") [Sec. 6]; (2) The ceiling on the national debt is raised to $11.3 trillion to accommodate this scheme [Sec. 10]; and (3) best of all: "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" [Sec. 8].
Put another way, this authorizes Hank Paulson to transfer $700 billion of taxpayer money to private industry in his sole discretion, and nobody has the right or ability to review or challenge any decision he makes."
Glenn Greenwald:
http://www.salon.com/opinion/greenwald/2008/09/20/bailout/index.html
NEW YORK - President Bush sought to assure anxious world leaders on Monday that the United States is taking "bold, aggressive, decisive action" to rescue the crisis-ridden economy with a $700 billion bailout package. "The whole world is watching to see if we can act quickly," Bush said, prodding lawmakers in Washington to approve his plan..."
more
http://news.yahoo.com/s/ap/20080922/ap_on_go_pr_wh/bush;_ylt=AhiZQk3QRU9tEn6DTBUP_gLCw5R4
"...UPDATE: Here is the current draft for the latest plan. It's elegantly simple. The three key provisions: (1) The Treasury Secretary is authorized to buy up to $700 billion of any mortgage-related assets (so he can just transfer that amount to any corporations in exchange for their worthless or severely crippled "assets") [Sec. 6]; (2) The ceiling on the national debt is raised to $11.3 trillion to accommodate this scheme [Sec. 10]; and (3) best of all: "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" [Sec. 8].
Put another way, this authorizes Hank Paulson to transfer $700 billion of taxpayer money to private industry in his sole discretion, and nobody has the right or ability to review or challenge any decision he makes."
Glenn Greenwald:
http://www.salon.com/opinion/greenwald/2008/09/20/bailout/index.html