posted on Sep, 21 2008 @ 03:11 AM
Originally posted by Relentless
(3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this
Act as financial agents of the Government as may be required of them;
The "U.S. Government"? The "shadow Government"? A newly formed "Government"?
Anybody else puzzled by the vagueness and usage of this term, "Government"?
Where I'm going with this is that the bailout draft grants powers to a "Secretary" (Czar) that presumably will be appointed by the current
President. However, "Government" doesn't mean "Congress" or the "Executive Branch", or even the three branches of the U.S. Government in whole
or in part. This is clear because the following negates and form of government oversight or intervention:
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.
So -- exactly what does "Government" refer to?!!
Also, it's apparent that the current powers that be, Bernake and Paulson, are positioning that Secretary/Czar, mentioned in Section 8 of the draft,
to do their bidding should they be replaced by the next administration.
Sec. 9. Termination of Authority.
The authorities under this Act, with the exception of authorities granted in sections 2(b)(5), 5 and 7, shall terminate two years from the date of
enactment of this Act.
For two years the new President of the U.S., and the government as a whole, will be powerless to do anything to offset the Section 8 Secretary/Czar.
Unless, of course, the new President enacts an executive decision to scuttle the whole thing, which I doubt any President would do.
Fannie Mae, Freddie Mac, AIG, and the bulk of bad mortgage owners -- AND the President of the U.S., his administration, and the entirety of the U.S.
governmet will all be had by the balls of this new Secretary/Czar for two years.
After the two years has passed, then what?