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Saturday, September 20, 2008

The $700 Billion carte blanche bill

Sec. 1.
(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;

(3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them;

Sec. 6. Maximum Amount of Authorized Purchases.
The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time...
http://blogs.wsj.com/economics/2008/09/20/treasurys-financial-bailout-proposal-to-congress/

$700 billion and no-one can sue!

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