Bailout, My 2¢ – Out of $700 Billion
Looks like America might be the newest big startup out there… Check this out:
Now with twice as many bailouts and 100x as many global economic repercussions. Seriously, hearing this clause sends shivers up my spine:
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.
Are you freaking kidding me? Really? Really? No oversight? No review? No obligation to inform anyone? I’m not sure about you, but this makes me think being in Guantanamo might be preferable to being a taxpayer.
I promise this will be my only post on this subject. Please, if this frightens and angers you as much as it does me, contact your congressmen immediately. I have.
Posted on September 22, 2008
Harry Sep 22
Any kind of oversight would include a debate process. That kind of decision needed to be made in hours not days. A major pillar of the economy was gonna fall like a tree. If this were a republican vs. democrat issue, they would both let this fall into a 2nd world nation just so that they could gain an edge by blaming each other.
But that’s not to say that there won’t be accountability. That will come next. The paper trail will either reveal wrongdoing, a broken system, or both. Then, a future generation can figure out how to pay back the money that we have to keep borrowing from hostile countries every time these things happen.
For right now, try some Great Prozac.
JesterXL Sep 22
NOM NOM NOMM NOMM…>!!!!!!!
Killian Tobin Sep 23
Should be your $2,500+ worth (conservative estimate not incorporating true cost of the bailout or inflation).
Check and Balances are part of our countries structure- even if Bush, Inc. have tried their darndest to evade them. No way this kind of uncheckable power over our entire economy is a good thing.
absolutefolios Sep 29
The credit markets expected the bailout. Now it will be like interest. The amount will only go up.
Netvantage Marketing Nov 25
Ugh. To quote 3rd party VP candidate Darrell Castle in the nearly ignored debate that happened on C-Span, “It’s Congress in your face saying, ‘We don’t care what you think. You’re all idiots. We, the political elite, know what’s best for you, so shut up and go back to the plantation.’”
We pay taxes…where’s the representation?