Law Practice
Oct. 6, 2008
Bailout Includes Provision for Judicial Review
Beverly Hills trial lawyer Paul Kiesel lobbied to preserve court review in the rescue bill in order to protect 50 class actions filed on behalf of homeowners with claims on subprime mortgages.
By Robert Iafolla
Daily Journal Staff Writer
WASHINGTON - Congress passed a controversial economic rescue plan Friday that, unlike the original Bush administration proposal, does not insulate the treasury secretary's actions from court review.
Although the bill preserves judicial review of the decisions Treasury Secretary Henry Paulson and his successors might make while doling out up to $700 billion across the troubled financial sector, it does limit th...
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