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Saturday, September 20, 2008

Treasury Secretary to Get Absolute Power?

Think about this:

Fascism always wraps itself in the flag, always seeks absolute power, always brands opponents as traitors, always relies heavily on propaganda for dissemination of its ideas, always invokes subversive enemies (at home and abroad), always embraces militarism and permanent war, always favors politicizing of police functions (and expanding them and the surveillance state), always scorns intellectuals, artists, and bourgeois democratic values, always is hostile to leftist and labor movements, and is obsessed with idealized images of a mythic "better time" of the past (while at the same time destroying that past, and the nation as a whole).

David Neiwert / Orcinus, The Rise of Pseudo Fascism

And then consider this. From NPR's Money Blog about The Monsters' proposal for "bailout" of The Monsters:

The Treasury Secretary can buy broadly defined assets, on any terms he wants, he can hire anyone he wants to do it and can appoint private sector companies as financial deputies of the US government. And he can write whatever regulation he thinks are needed.

I understand that they wanted freedom to respond and an ability to move quickly, but to designate the Treasury Secretary full power to oversee the, uh, Treasury Secretary's decisions seems unusual. Especially given that Congress only gets a report twice a year ...

This graph really stands out:

"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."

Whoa. So, for the next three months, and then an additional six months after that, the Treasury Secretary can do anything he deems appropriate without anybody anywhere looking it over. That seems like an awful lot of absolute power. Am I wrong? Is this typical bureaucratic langauge? Or is this as strange as it seems?

What will the Democrats in Congress do? What can we do?

September 20, 2008 at 05:33 PM in Corporatism, Crime, Economy, Populism | Permalink

Comments

The Dems are already agreeing to most of the terms in the deal. Is it financial blackmail by folks in the Bush Administration, saying, "Give us our war profits or we send you to economic hell."

The war was about making money on oil. They didn't see the mortgage crisis undermining their own money and now they'll resort to financial instability around the world to protect themselves as they get ready to ride into the political sunset.

I just want to know if the next administration will send the posse into the sunset to capture these idiots and bring them back to town for some quick justice and then a public hanging.

Posted by: Douglas | Sep 20, 2008 7:16:12 PM

Bring back the guillotine.

Posted by: S. Bates | Sep 20, 2008 7:35:08 PM

Who in their right mind would hand Paulson a blank check and the keys to the Treasury with absolutely NO accountability from anyone. We cannot allow this to happen as written, call, email, or FAX our Washington delegation to NOT fall for this plan for ROBBING the American people again. This sentence from the original draft of the (Booo$hCo) plan has to be one of the scariest I have ever read from Washington. "Sec. 8. Review.

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."

Posted by: VP | Sep 21, 2008 8:11:56 AM

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