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TITLE I - Troubled Assets Relief Program

Sec. 118. FUNDING. (3 Comments) subscribe to the comments feed

For the purpose of the authorities granted in this Act, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, United States Code, and the purposes for which securities may be issued under chapter 31 of title 31, United States Code, are extended to include actions authorized by this Act, including the payment of administrative expenses. Any funds expended or obligated by the Secretary for actions authorized by this Act, including the payment of administrative expenses, shall be deemed appropriated at the time of such expenditure or obligation.

3 comments on Sec. 118. FUNDING.

  • Does this mean that any money that make off of this $700, they can keep as "administrative expenses"?

    posted by Larsie at October 2, 2008

  • I think it's basically saying he has the power to 'print' the money needed to do this that's all. And any money he 'prints' will be used for everything in this bogus bill.

    posted by Joe American at October 3, 2008

  • This says that "The Secretary" can print as much money as he wants and pay himself as much money as he wants along with anyone else he deems necessary. Are you kidding me? I can't believe I'm reading this. We' ve got to wake up! This is ridiculous!

    posted by I'm Pissed! at October 4, 2008
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