Saturday, September 20, 2008

Treasury Secretary Paulson, immune from prosecution

Good thing it is a chilly evening, my blood just started to boil.  Background: if you are on Twitter and have any interest in the US economy, you need to follow Christopher Penn, @cspenn (there are plenty of other reason to follow Chris, but his economic insights are the focus tonight).  A snippet of the bailout bill reads:

"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."

Go read Chris' blog post at  It contains the full text of the bailout proposal and some commentary.  Short version, Treasury Secretary gets to make the law, and is therefore above the law.

Sleep well.