Court oversight neglected

September 30, 2008
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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.
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  1. I just wanted to point out that Congressman Jim Sensenbrenner, Senator Feinstein, former Senate majority leader Bill Frist, and former attorney general John Ashcroft are responsible for this rubbish. We need to keep a eye on these corrupt, arrogant, and incompetent fools.

  2. Well I guess our politicians have decided to give these idiot federal prosecutors unlimited power. Now if I guy bounces a fifty-dollar check, the U.S. attorney can intentionally wait for twenty-five years or so and have the check swabbed for DNA and file charges. These power hungry federal prosecutors now have unlimited power to mess with people. we can thank Wisconsin's Jim Sensenbrenner and Diane Feinstein, John Achcroft and Bill Frist for this one. Way to go, idiots.

  3. I wonder if the USSR had electronic voting machines that changed the ballot after it was cast? Oh well, at least we have a free media serving as vicious watchdog and exposing all of the rot in the system! (Insert rimshot)

  4. Jose, you are assuming those in power do not wish to be totalitarian. My experience has convinced me otherwise. Constitutionalists are nearly as rare as hens teeth among the powerbrokers "managing" us for The Glorious State. Oh, and your point is dead on, el correcta mundo. Keep the Founders’ (1791 & 1851) vision alive, my friend, even if most all others, and especially the ruling junta, chase only power and money (i.e. mammon)

  5. Hypocrisy in high places, absolute immunity handed out like Halloween treats (it is the stuff of which tyranny is made) and the belief that government agents are above the constitutions and cannot be held responsible for mere citizen is killing, perhaps has killed, The Republic. And yet those same power drunk statists just reel on down the hallway toward bureaucratic fascism.

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