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.
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?