Now that's more like it

At the Senate Banking Committee hearings today, Senator Dodd finally shined the light on the most disturbing aspect of a very disturbing bailout proposal: "Dodd squarely aimed a shot at Section 8 of the proposal, which stipulates that, under the plan, the Secretary's actions would be 'non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.'"

"After reading this proposal," said Dodd, "I can only conclude it is not just our economy that is at risk but our Constitution as well."

New York Times busines writer Andrew Ross Sorkin says "it is both the biggest rescue and the most amazing power grab in the history of the American economy." And someone else said it would grant powers to the Secretary that even the President doesn't have.

And they haven't even tried to make a case for that power. Everyone seemed to assume that it was necessary to keep pesky questions from slowing down the need to act quickly. History proves over and over again that laws made in response to crises usually prove to be bad laws.

Ralph