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Kasz216 on 28 October 2008
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NJ5 said:
Kasz216 said:

The congress could eaisly block this from happening and demand the money back... yet.


If I remember correctly, the text of the law (or whatever you call it) approving the bailout gave the Federal Reserve wide powers to do whatever they wanted. There was even a clause saying that no court could challenge decisions made about how the money is spent (this cause would probably not stand up in court, but it was there).

Some weeks ago I saw someone saying that a recession/depression is a way for the rich to get even richer while the rest of us get poorer. This and other recent events make that look quite accurate. Call me cynical, but I don't believe this crisis just "happened".

 


It did previously... but the republicans blocked it because of that... i believe they added in some checks to allow them to screw with it.  Also some bribes.


To quote Wikipedia

"The original plan would have granted the Secretary of the Treasury unprecedented power to spend, proofing his or her actions against congressional or judicial review. Section 8 of the Paulson proposal states: "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 provision was not included in the final version."

Congressional rule can happen.  The question is, will the democrats actually do it considering there in the pockets of the big banks as much as the republicans are.