Thursday, 25 September 2008

The Crash

On the day that Ireland officially enters recession here is an interesting interview on the roots of the crash;

There has been lots of coverage of the proposed bailout by the US government, an interesting clause in this plan would, in effect, make the US Treasury Secretary one of the most powerful dictators in the world;
"Section 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." In other words, no lawsuits allowed by aggrieved investors or American taxpayers. No complaints later from ignorant pols who didn't know what they voted for. Take it or leave it, suckers.