The text of the Bailout Act is out. And Section 8 is egregious:
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.
Call your Congressman or woman and demand that this will not stand, otherwise Congress will have literally just ceded its last bit of power, that of the purse.
Like Stirling said, this is pretty Constitutional, if you ask me.
Nota bene: As a Conservative friend of mine just said in an email, “It’s not good at all. It’s basically a transfer of the unlimited power of the Executive in wartime to spending matters. Taken to its logical extreme, it’s the end of Congress.”