Do We Really Want To Abolish Congress? The Paulson Plan Will Do Just That!

Has anyone seen any mention of the infamous Section 8 of the Paulson Bailout Plan mentioned in any major media outlet?

Here's the text just as a reminder:

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.

It is critical that this gain traction this week. Write every outlet you can think of to cover this massive power grab. And if you see any mention of it, please note it in the comment thread.

Well, at least Jack Balkin is paying attention. It's a must read.

Write you your House Representative, here. Write to your Senator here.

Update: Ian notes that Obama seems to have drawn a line in the sand: NO DEAL! Although I must note, after reading Obama's remarks, I don't see anything about Section 8 or legal oversight in them AT ALL. And that is disturbing. Here are the key points:

First, there must be no blank check when American taxpayers are on the hook for this much money.

Second, taxpayers shouldn't be spending a dime to reward CEOs on Wall Street.

Third, taxpayers should be protected and should be able to recoup this investment.

Fourth, this plan has to help homeowners stay in their homes.

Notice anything missing?

Update 2: Lambert points out that McClatchy is on the case.

Comments

[Pdubya]

Congress has been complicitly inept since they were bullied into giving authority to the Federal Reserve under pressure from Wison. Wilson apologized in his memoirs for ruining America by helping create the Fed.

"Allow me to issue and control a nation's money and I care not who writes its laws!". Amshell Rothschild


peace

[mjc]

Positively amazing that Paulson and Bernanke can demand that Congress act now giving Paulson full powers to fix the problem with $700 billion. As has been pointed out, that is how we get into bad legislation like the Patriot Act. $700 billion, and probably more will be added, could establish a new deal easily in this country. Problem Wall St. firms would go unnoticed and slide out of failing into a glorious stability. Obama, to his credit, has raised some big questions about what to do about the proposal but still doesn't seem to get the fact that the power Paulson is getting is UNLIMITED! Not only will present day taxpayers bear the brunt of the greed from the big corporate firms, our great-great grandchildren will be paying for this as well. I do not see the Democrats or the Republicans acting to limit or stay this proposal. Pelosi and others will see this as too big for little 'ol Congress to deal with. Republicans have to be completely aware that this is another legacy of their leader, George Bush and probably be unwilling to halt the move to do away with Congressional oversight, not that that has proven a very good tool in the past. This is the time for a grassroots wildfire. Either we are willing to become nothing more than a fascist government with a democratic overlay or we must fight tooth and toenail to end this latest coup d'etat.

[Tunghoy]

Sorry for being flippant, but has anyone else noted the irony of "Section 8" -- the insanity rule with which Corporal Klinger was always trying to get discharged from the Army? Maybe Paulson should be wearing a dress.

[Crowhaul]

Let's try this one: Taxpayers shouldn't be helping out Wall Street.... AT ALL.

[XME]

I've contacted both of my Senators and my Congressman...thank you! Many people are very sick as to whether this will even help, let alone the problems with how the administration has proposed it. We've fallen for their "must act NOW...no time to think" act when it came to the Patriot Act, and when it came to claims of WMDs in Iraq, so needless to say that many of us are VERY skeptical, and are worried that Congress will let GWB hoodwink the again!

[researcher]

not only abolish them run them out of town and start over and change to term limits for future congress folks.

naw americans not brave enough to do that

status quo

jefferson time in america

all must go

it will take decades of corp fascism for americans to realize the genius of jefferson.

[strangerinthenight]

Remove Pelosi and DO NOTHING CONGRESS ! Useless !

[maveman]

we need to watch the wealthy take over the country-giving most people crumbs while they and congress count their loot--sad in America!

[DougNTexas]

The Democrats will cave in before the week is over and pass it. It's complete lunacy. That Section 8 is reason alone for the Democrats to stop the plan in it's entiredly. Some one on the Democrat side needs to grow a pair.

[robXdion]

This is playing out more and more like Star Wars: Attack of the Clones. The Emperor creates a crisis, gets the senate to give him power to fix it, and then ultimately disbands the legislature and implements an totalitarian regime. Only thing is. . . .we don't have a Master Yoda or Obi Wan to see thru the BS.

[KayDGee]

Or Pirates of the Caribbean - "Take what you can ... Give nothing back!"

[santamonica39]

The other thing that is missing from your list is which taxpayers should bear the burden of this bailout. We need to insist that taxes are RAISED on the wealthy in this country. People making over $500K should pay for this bailout, not middle class and working americans. They rich in this country have been the beneficiaries of the last 8 years of rape and pillage of our resources and that is where this burden should fall.

[AnotherMcIntosh]

The very existence of Section 8 of the Paulson Bailout Plan means that it should be rejected in its entirety.

No compromises.

Just reject it.

And demand that Paulson resign.

[burndtdan]

The Imperial Senate will no longer be of any concern to us. I have just received word that the Emperor has dissolved the council permanently. The last remnants of the Old Republic have been swept away.

[syllepsis]

Paulson is no fool. He has seen this Democratic Congress act like it wants to abolish itself before (so as not to be blamed for anything, naturally), and is doing them a great favor by removing the one weapon Cheney said they had left, "the power of the purse."
Congress might misuse that and get blamed. We know how angry Rahm Emanuel will be if that happens.

[santamonica39]

boy, my 2 year old is going to be saddled with debt because of the actions of this greedy and wasteful administration and all you can do is be snarky? It must be nice to be so financially comfortable so as not to care about the suffering of your fellow Americans. Then again, I'm glad I'm not that cynical.

[syllepsis]

Actually, I am angry and frustrated beyond words with what is going on.
But yes, I am cynical as hell. Crises bring out people's failings like nothing else can.