So I was hovering around Huffington Post until I noticed their top story today. Check this out.
Jason Linkins writes:
“A critical – and radical – component of the bailout package proposed by the Bush administration has thus far failed to garner the serious attention of anyone in the press. Section 8 (which ironically reminds one of the popular name of the portion of the 1937 Housing Act that paved the way for subsidized affordable housing ) of this legislation is just a single sentence of thirty-two words, but it represents a significant consolidation of power and an abdication of oversight authority that’s so flat-out astounding that it ought to set one’s hair on fire.”
It definitely set my hair on fire. Are you all ready? Here’s what the bailout text says:
“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.”
So the mother of all bailouts CANNOT be challenged by the courts. Does that make any sense? Is this even legal? Some answers would be great.
Kudos to Huffington Post for finding this. Has anyone else been covering this aspect of the bailout? It looks like The American Prospect’s Robert Kuttner has delved into the issue… but not many.
Folks, this Section 8 of the bailout consolidates A LOT of power in the executive branch. I’m confident Leahy, Sanders, and Welch will vote against it but there’s got to be something we can do as bloggers to make sure this doesn’t pass. To read the Huffington Post article in full click here.
Scared yet?