Watch Out For This Nugget To Be Included In The Govt Bailout Plan...

[Blackhatjack]

... there is every reason to believe that the entities which will be feeding at the trough filled with taxpayer money have engaged in criminal conduct, directed and orchestrated by its top officials who took home billions of $$ in bonuses and excess compensation.

Look out for the provision that makes the deal non-reviewable by the courts to be used as a shield from criminal prosecution.

If an entity is required by its owners and directors to participate fully, then those officials which might be criminally prosecuted will argue that they were deprived of their constitutional rights to remain silent and not provide evidence against themselves. If successful, that would immunize them from criminal prosecution --and would make it easier to keep their ill-gotten gains.

[Avalux]

1. It's already in there -

as written by the WH:

"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."

http://globaleconomicanalysis.blogspot.com/2008/09/700-billion-bailout-proposal.html

[Ganja Ninja]

2. Don't give it to them.

This whole thing of "Give us $700 billion with no strings attached and make it snappy." is bullshit! They should take their time and if they can't get reasonable conditions then fuck them. Beggars can't be choosers. I'd rather the whole house of cards come down then have this rammed down our throats without oversight.

[AtomicKitten]

3. Am I dreaming to think the Dem Congress will hold their ground?

Probably.

[Blackhatjack]

4. Problematic language "Decisions by the Secretary pursuant to the authority of this Act..."

If I were defending one of these CEOs against criminal charges AFTER the corporation entered into agreements and transactions with the Sec of the Treasury under the bailout plan, I would argue that there was no way for my client to challenge the decisions of the Sec in court and the making of statements and turning over evidence amounted to coercion which violated my client's constitutional rights to remain silent and/or not be required to provide evidence against himself.

This one clause could let the most egregious actors run free of criminal prosecution.