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.
Reason Magazine
New at Reason: Jacob Sullum on TARP, the GMAC Bailout, and the Lawlessness of the Bush Administration
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