The text of the proposed emergency markets legislation is now available. Just as expected, it will contain a provision to provide immunity from any review by any court or executive agency. Either get with the collaborationists or get with the insurgents. There is no other choice. The USA doesn't exist as we once knew it.
The relevant text from the legislation:
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.
Good luck, everyone. We're in uncharted waters now. There is no rule of law if this passes - there are no markets. We've all been had, and the worst is yet to come.
Sunday, September 21, 2008
the splendid blond banking beast
London Banker:
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