There was a time, long ago (i.e., six months) when we were indignantly mocking a certain politician for suggesting that she was ready to be “Commander-in-Chief of our economy.”
My, how the whirlpool turns:
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.
Treasury Secretary Paulson might not become commander-in-chief of the entire economy, but $800 billion of it is certainly a good start for a up-and-coming economic dictator. Meanwhile, anyone else recalling a certain fictional scene: “I’m offering you Wesley Mouch’s job!”?
As for pesky notions of, e.g.:
–Article III of the Constitution (“The judicial Power shall extend to all Cases, in Law and Equity, arising under this Constitution, the Laws of the United States, and Treaties made, or which shall be made, under their Authority[.]“)
–The long-standing rule that Congress cannot delegate its legislative authority over an entire subject matter to an executive agency such as the Treasury and simultaneously waive its oversight of that agency…
…well, if there’s one thing we learned after 9/11, it’s that emergencies can be an excuse for anything. Absolutely anything.
More thoughts at EconLog, Naked Capitalism, Reason (op-ed round-up), SCOTUSblog (on constitutional questions), Unqualified Offerings, Crossed Pond.
(For the uninitiated: Directive 10-289 here.)
Previously:
–Directive 10-289 Watch (“California Hasta la Vista Tax”)
–Directive 10-289 Watch (”Reasonable Profits Board”)
