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Originally Posted by Intangir
i wonder if most people even know what the constitution is
bloomberg is reporting its more like 5 trillion dollars
but according to the bill we wont really be allowed to know
and neither will congress, and neither will the courts
the guys that stole trillions from us are basically asking us to trust them without oversight to save us from themselves and their corrupt system
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Congress wouldn't even approve $750 Billion up front, the administration knew that. They asked for a high amount because they knew in the end they would be granted more.
There are specific bipartisan committees in the US Congress that are responsible for oversight of projects such as these, and their authority supersedes any order issued by the president or cabinet. Of course Congress wouldn't have agreed to release even a dime from the federal reserves without having an incredible amount of oversight. To think the president is doing this all by himself behind locked doors with no one looking over his shoulder would be ridiculous. He's lost most of his credibility in both parties, and his mandate is diminishing rapidly due to his term expiring. Keep in mind that the Congress has, and always will have, a much higher level of authority than that of the president. Theyre the ones calling the shots behind the scenes, the president is just the tool through which they work.
In the end..
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The tentative accord would give the Bush administration just a fraction of the $700 billion it had requested up front, with half the money subject to a congressional veto, congressional aides said. Under the plan, the Treasury secretary would get $250 billion immediately and could have an additional $100 billion if he certified it was needed. The last $350 billion could be blocked by a vote of Congress under the arrangement, designed to give lawmakers a stronger hand in controlling the unprecedented rescue.
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Tentative meltdown deal: Bush, McCain, Obama meet: Financial News - Yahoo! Finance