Saturday, September 20, 2008

Puttng Power In The Hands of Hank Paulson

From Treasury Secretary Paulson's bailout proposal that was sent to Congress:

The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States....

The Secretary is authorized to take such actions as... issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act...

The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time...

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...

-Robert Wenzel

1 comment:

  1. Paulson should be removed from office immediately and arrested for treason. Te proposed bail-outs of reckless businesses using taxpayer money is outrageous, intolerable, and unconstitutional. If this proposal is not immediately shot-down by Congress, then Americans should march on Congress with torches and pitchforks and throw those degenerates out in the street.

    Save America -- Abolish the Federal Reserve!!!

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