This is an initial negotiating proposal, and will probably have some checks and balances added in Congresional negotiations over the weekend. But still… holy shit:
(a) Authority to Purchase.–The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States.
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(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;
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Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
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This is not the site of journalist and author Daniel Glick. His website is at danielglick.net
Sick Transit: A directionless train of thought. Sic transit cogitationes Danis.