For those interested in reading the bailout bill
You can read the proposed bailout bill here. Two quotes that caught my attention.
“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.”
“The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time.”
Labels: mortgagecrisis
posted by John Lott at 7:34 PM
3 Comments:
Have I forgotten all that math I had to take or is this bailout about 40% *larger* than our budget deficit I've heard so much about?
Forgive me but isn't that braking a few laws not to mention contrary to the Constitution?
Where am I wrong
I'd like to hear Scalia's opinion on this. If they pass this act, we may hear it.
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