Court oversight neglected

September 30, 2008
Back to TopCommentsE-mailPrint
Hey, there. I’ve found myself in a bit of a pickle financially and need around $700 billion. Can you lend it to me without me telling you what I need it for? Thanks. But by the way, if I don’t repay it, or I do things with the money that you don’t like, you have no recourse to get your money back.

What? You don’t want to lend me the money anymore? But I really need it, and if you don’t give it to me, bad things will happen. You should just overlook the fact that my decisions in what to do with the money can’t be reviewed by the courts.

That’s pretty much how I interpret what’s going on with the bailout package proposed by President Bush’s administration. They’ve focused so much on the doom and gloom that will happen if this package isn’t passed by Congress that the general public may not know about Section 8 of the legislative proposal for the treasury to be able to buy mortgage-related assets.

Section 8 of the original resolution states: “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.”

But Congress must not have liked that lack of oversight because the unlimited powers for the secretary of the treasury outlined in the original resolution were changed. The amended resolution includes Section 119 – Judicial Review and related matters. Under this section, actions by the treasury secretary under this act can be held to be unlawful and set aside if they are found to be arbitrary, capricious, an abuse of discretion, and not in accordance with the law.

Wasn’t a lack of review and oversight what got the U.S. into the financial mess it’s in now? The president, his administration, and Congress need to slow down and examine this package thoroughly because if it passes, it needs to be the best possible scenario for Wall Street, financial institutions, and taxpayers, or else we could just end up in this mess again in a few years.
ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in Indiana Lawyer editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT
  1. Frankly, it is tragic that you are even considering going to an expensive, unaccredited "law school." It is extremely difficult to get a job with a degree from a real school. If you are going to make the investment of time, money, and tears into law school, it should not be to a place that won't actually enable you to practice law when you graduate.

  2. As a lawyer who grew up in Fort Wayne (but went to a real law school), it is not that hard to find a mentor in the legal community without your school's assistance. One does not need to pay tens of thousands of dollars to go to an unaccredited legal diploma mill to get a mentor. Having a mentor means precisely nothing if you cannot get a job upon graduation, and considering that the legal job market is utterly terrible, these students from Indiana Tech are going to be adrift after graduation.

  3. 700,000 to 800,000 Americans are arrested for marijuana possession each year in the US. Do we need a new justice center if we decriminalize marijuana by having the City Council enact a $100 fine for marijuana possession and have the money go towards road repair?

  4. I am sorry to hear this.

  5. I tried a case in Judge Barker's court many years ago and I recall it vividly as a highlight of my career. I don't get in federal court very often but found myself back there again last Summer. We had both aged a bit but I must say she was just as I had remembered her. Authoritative, organized and yes, human ...with a good sense of humor. I also appreciated that even though we were dealing with difficult criminal cases, she treated my clients with dignity and understanding. My clients certainly respected her. Thanks for this nice article. Congratulations to Judge Barker for reaching another milestone in a remarkable career.

ADVERTISEMENT