Emergency Economic Stabilization Act

Paulson Seeks Blank Check for Treasury 

The good news? The current administration now appears to understand the gravity of the financial situation. But that may be the only clear good news so far to come out of an unprecedented power grab by Treasury secretary Henry Paulson and administration officials, including an intrusion into free markets unlike any other in history. Saying that the American economy may fail if Congress fails to act on his proposal, Treasury secretary Henry Paulson is pushing for powers that have little historical precedent in our country, a sort of blank check that he says will help end this crisis.