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Unprecedented Power Shift In Bailout, Prof Warns

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Unprecedented Power Shift In Bailout, Prof Warns

Unprecedented Power Shift In Bailout, Prof Warns

Fed chairman Bernanke, President Bush, Treasury Secretary Henry Paulson and SEC chairman Christopher Cox. Chip Somodevilla/Getty Images hide caption

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Unprecedented Power Shift In Bailout, Prof Warns

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The Bush administration has asked Congress to pass a $700 billion bailout of Wall Street.

Jon Macey, deputy dean of Yale Law School, says it's clear that the economy seriously hit the skids last week and that something had to be done. What's got him worried is the sweeping power the administration wants Congress to hand over.

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