Where is Paulson now in the new bill?

On Sept. 28: "The draft legislation, which will be put to a House vote on Monday, gives Treasury Secretary Henry M. Paulson Jr. and his successor extraordinary power to decide how the $700 billion bailout fund is spent. For example, if he thinks it wise, he may buy not only mortgages and mortgage-backed securities, but any other financial instrument. . . Rarely if ever has one man had such broad authority to spend government money as he sees fit, with no rules requiring him to seek out the lowest possible price for assets being purchased." NYT here

This is the scariest part of the bailout. Haven't heard a thing today about him. We don't even know who will be in this position come January. Hey--could be Barney Frank! Fannie, Freddie and Frankie.

Text of the EMERGENCY ECONOMIC STABILIZATION bill--it's huge. It should be a requirement that no one is allowed to vote who hasn't read the bill.