The GMAC bailout, writes Jacob Sullum, highlights the lawlessness of the Bush administration, which has ignored statutory restrictions on the Troubled Asset Relief Program (TARP) and treated it as a slush fund for politically favored supplicants. Although he has strongly criticized President Bush for flouting the law, President-elect Obama has applauded the latest manifestation of that tendency. Evidently Obama opposes only the "unnecessary" abuse of executive power.
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