Display:
The way I heard the story in the first place, Paulson was given a mandate to purchase securities after carefully evaluating them. And a budget with which to serve this mandate.

If he has now decided that it is (surprise, surprise) impossible to service the mandate he was given within the time frame made available to him... can he just change the mandate unilaterally?

That wouldn't fly in a Danish chess club, nevermind Parliament.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Nov 13th, 2008 at 06:23:23 PM EST
[ Parent ]
As I understand it one of the critiques against the bailout law was that it included some words about the decisions of the finance minister not being testable by court. Or something like that.

I am not sure if the language was left in the final version, but has not the Bush government constantly claimed that they are above the law anyways? And has not the democrats let them get away with it in all previous situations?

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Thu Nov 13th, 2008 at 07:31:22 PM EST
[ Parent ]

Display:
Login
. Make a new account
. Reset password
Occasional Series