The Caffeine Coup And The Bailout
September 22, 2008, 06:31 PM
A+
|
a-
Print Friendly and PDF

From the proposed $700 billion mortgage bailout:

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.

From the NYT:

The two men [Treasury Secretary Paulson and Fed Chairman Bernanke] have been working early and working late, tracking Asian markets and fielding calls from their European counterparts, then reconnecting with each other by phone eight or nine times a day, talking so often that they speak in shorthand. Mr. Paulson has powered through the long days with a steady infusion of Diet Coke. Asked twice to testify by the Senate last week, he begged off.

�He told me he had like four hours of sleep,� said Senator Christopher J. Dodd, Democrat of Connecticut and chairman of the Banking Committee. But there were limits to Mr. Dodd’s sympathy. �The public wants to know what’s going on,� he said he replied.

Mr. Bernanke (his drink: Diet Dr Pepper) has made a point of leaving the office by midnight to get at least some rest, but friends say the toll on him is clear as well.