Stop Paulson's Bankers' Dictatorship

September 22, 2008 (LPAC)--Under the appropriately named Section 8 of his unprecedented bailout swindle, Treasury Secretary Henry Paulson included a clause which decrees that none of his actions can be overturned or modified by any court or administrative agency. That would eliminate any legal challenges or appeals, and effectively place Paulson and his bailout operation above the law, creating a virtual bankers' dictatorship.

The relevant section of his legislative proposal reads: "Sec. 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."

Throughout the proposal, the language reinforces the idea that Paulson is a virtual dictator, stating that "The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act," including entering into contracts "without regard to any other provision of law regarding public contracts, " "designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them," and "issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act."

Objections are being raised over the scope of Paulson's desired powers. "This is not a monarchy," said Nouriel Roubini, while former S.E.C. official Frank Razzano complained that Paulson is seeking "dictatorial power unreviewable by the third branch of government, the courts...We are taking a huge leap of faith."

The bankers are trying to ram this travesty down the throats of the American people this week, before the public has a chance to mobilize against it. They know, and Paulson knows, that this is a giant rip-off designed to protect the parasites who created this mess, at the expense of the Constitution, the nation and we the people. They are retailing the Big Lie, claiming that there is no alternative, that these measures are designed to protect the public, when in reality it is the biggest theft in history. But there is an alternative, and they know it, an alternative which would put the parasites through bankruptcy while protecting the Constitution, the nation and the people. That alternative is Lyndon LaRouche's three-point plan.