From the draft text of the bailout bill now being considered by Congress:

"Decisions by the Secretary [of Treasury] 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 Secretary Paulson is demanding, under terms of economic blackmail, is for the US Congress to abdicate its Constitutional authoriy regarding its "power of the purse."  Am I reading this wrong?

"The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time."

The current bill and any modification thereof is likely to filled with open ended clauses like the above.  These will give the FED, with the Treasury acting as its agent, incredible new and expanded powers. 

If you're outraged by this naked power grab - that the FED and Mr. Paulson's friends at Goldman Sachs have put him up to - join with others in showing up to your local Congressional office to personally lodge your opposition to the Paulson Plan.   Day of this action for this is Thursday Sept 25th, 9:00am. 

Bring your friends.  Don't forget to bring your camera to document your visit.

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