World-News

http://www.commondreams.org/view/2008/09/28

A Better Bailout
http://www.commondreams.org/view/2008/09/27-9

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State capitalism in crisis

Foundation for Economic Education
by Sheldon Richman

09/26/08

Let’s take a bird’s-eye view of what the Bush administration, with congressional complicity, proposes to do about the financial problems. The administration wants the authority to spend a minimum of $700 billion buying, among other things, bad mortgage loans — loans no one else will buy — from solvent banks and other institutions. The draft of this extraordinary measure contains this extraordinary provision: ‘Decisions by the [Treasury] 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’...

http://www.fee.org/in_brief/default.asp?id=2360


Informant: Thomas L. Knapp



http://freepage.twoday.net/search?q=financial+crisis
http://freepage.twoday.net/search?q=bailout
http://freepage.twoday.net/search?q=state+capitalism
http://freepage.twoday.net/search?q=$700
http://freepage.twoday.net/search?q=mortgage
http://freepage.twoday.net/search?q=Paulson
http://freepage.twoday.net/search?q=Joseph+Stiglitz
http://freepage.twoday.net/search?q=Sheldon+Richman