The Bush Administration is trying to panic Congress into writing a blank check. I’m bitterly opposed to this, although it would fit a pattern that goes back to at least September 2001 with Bush and Congress, whether Republicans or Democrats are in the majority. A financial disaster “managed” by adding in a political disaster that will cost us for decades. Way to go, guys. I suspect the two nominees for President are playing a game of chicken over who will endorse/reject the deal first. If they were smart, both candidates would denounce it. From the leaked document, isn’t this the true story of the whole Bush Presidency right here?
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. Â
If this is passed by Congress, it’s approving the greatest Bush ripoff of all, a no-bid giveaway of your tax money to the worst and riskiest speculators, rewarding them for ripping off millions of Americans with exploding-interest mortgages and then foreclosing on their homes. One out of every 414 mortgages in the United States was in some part of the foreclosure process in August.
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