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Tuesday, September 23, 2008

Paulson: "I Want Oversight!"

by Calculated Risk on 9/23/2008 09:44:00 PM

Update to make this clear: I never focused on Section 8 (oversight) of the Paulson Proposal because I felt this was obviously going to be changed. To be fair, sometimes people put an offensive clause in a proposed agreement as a negotiating ploy. I think Paulson learned that negotiating ploys don't go over very well with Senators!

From Paulson's proposal:

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.

Paulson today:

If Paulson really wants transparency, give us a website, updated daily, with the details of all transactions!