A friend of Henry Paulson can't lose money...

[Eric J in MN]

...on a mortgage-related investment if this proposal passes.

If that person buys a mortgage-related product and the price goes up in the private-sector, then he can sell it at a proft in the private sector.

If that person buys a mortgage-related product and the price goes down in the private-sector, then he can phone Henry Paulson and sell it to Treasury at a profit.

The courts can't object to the latter deal.

"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."

[Eric J in MN]

1. My point is that the Treasury Proposal encourages corruption.

The clause against court oversight needs to be dropped.

A clause also needs to be added saying that Treasury must pay less than the current owner paid when buying assets.

Ideally, the whole bill would be rejected.