Say “NO!” To Section 8

Read the following quote carefully. Then, read it again, and if necessary, again.

“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.”

This one sentence makes up Section 8 of the financial package presently being debated by Congress. It’s a bill to spend around $700billion bailing out Wall Street, but this one sentence means its a bill that goes much further than that.

This one sentence will pass massive power to the Executive Branch. It will allow Treasury Secretary Poulson to sit down with Wall Street executives and connive how they will divest themselves of their bad debts, at taxpayer’s expense, while ensuring their own financial futures remain secure. They can do so with no oversight authority, meaning no-one will know the details of what they decide, and even if it does become known, there’s absolutely nothing anyone can do about it.

This one sentence is yet another nail in the lid of the coffin that holds the corpse of US democracy.

Are Americans going to allow this to happen? Probably. Right now, they’re so scared of losing their pension funds and 401Ks they’ll happily agree to anything.

America, you’re about to be sold down the river yet again by a band of crooked bankers and financiers who are about to take you for seven hundred billion dollars.

It time to stand up and be counted. It time to say “NO!” to Section 8.

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2 Replies to “Say “NO!” To Section 8”

  1. On the car radio I heard Chris Dodd giving them what-for on this subject. I don’t think it will be as much of a done deal as those who concocted this plan expected. Let’s hope Dodd and his allies can at least get the plan modified.

    Can’t say I understand any of it really, but anything proposed by “that lot” is bound to be bad news.

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