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Strategies & Market Trends : The Residential Real Estate Crash Index
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From: Think4Yourself9/20/2008 4:56:47 PM
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From a private news service. Article probably in public domain but my link won't work for others.

...The only limitation would be that purchases could not exceed $700 billion outstanding at any one time.
... The plan offered to Congress also gives the Treasury legal immunity from any lawsuits.

"Decisions by the secretary pursuant to the authority are non-reviewable ... and may not be reviewed by any court of law or any administrative agency," the proposal says.

The proposal does not detail how Treasury would manage the assets, but does give Paulson the authority to hire private financial institutions to conduct the program, as well as to create other entities to purchase mortgage assets and issue debt.
... xxx

Truly incredible! In other words, Paulson wants the largest check ever written with no rules on how he uses it, no oversight, and no consequences. Is Congress really THAT stupid? I think yes, they probably are. Taxpayers are about to get reamed, courtesy of their congressmen.
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