I can’t understand why it’s better for the U.S. taxpayer to buy more than two-thirds of a trillion dollars of bad debt, than to fill in the hole that the banks dug for themselves, with the banks still at the bottom of it. It’s clearly above my pay grade, but maybe a reader who didn’t drop economics in college can explain it to me.
I don’t know high finance, but I do know accountability. And this bill includes none:
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.
“What authority?”, you might well ask.
The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act. . . .
Where do I get one of those jobs where I have carte blanche to spend 700 billion dollars of someone else’s money “as I deem necessary” with absolutely no risk of prosecution?