Posts Bailout...


I get the feeling that the US is screwed with or without the current bailout. So why is Bush and company pushing it so hard? I think it benefits them most after they are out of office but I have no clue how. This does not protect people’s money and this does not protect home-owners. This only protects companys who made bad choices, and potentially the foreign markets view on the US as a stable financial market. And if anything, this also proves that the ‘free market’ is not a good idea if the ‘free market’ folks want/need this bailout.

Oh, and the original request required no oversight or governance. Bad sign… (Check out Leahy’s change made to section eight, end of the link below)

“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.”

Full original text: here

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