Executive Privilege

I'll be the first to admit that when it comes to economics I am not the sharpest knife in the drawer. My area of expertise goes as far as supply and demand and that is about it. As an avid fan of NPR, I do get a chance to listen to MarketPlace, so while I know what is going on, I won't say that I understand it completely.

Having said that, I've been doing some research on Secretary Paulson's bail out bill in front of Congress to get a better grip of what this means for me and the other 2 of you who read this blog. Of everything that I have read, what struck as the biggest slip under the rug move since, GITMO, is Section 8 of the bill that 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." What?! Huh? Got you've to be kidding me? I thought I remember something in my civics class from high school about checks and balances. Apparently, President Bush, once again believes that aren't any checks and balances and it's either his/the Secretary of the Treasury's way or the high way. Now, I know this doesn't mean that the Secretary can go and just do what he wants with our taxpayer dollars, but it seems pretty close to that.

Everything I have heard and read indicate that our financial stability is under a huge crisis - no argument there. I am sure Secretary Paulson is a very creditable person - for god sakes he is the Secretary of the Treasury - but to give him carte blanche to do what ever he wants?! That to me seems a little nerve wrecking. While I know the job isn't political, well maybe slightly, is this really such a good idea? To not have any knowledge of what the Secretary is doing? If it all goes horribly wrong, then what happens? We won't know what decisions have been made and what the basis for particular actions where, because what goes on in the Secretary's office, stays in the Secretary's office. I just hope he isn't using a dart board.