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 http://www.christopherspenn.com/2008/09/21/game-over/. 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.
Jack
