It’s not quite as scary if you read Sec. 9:
Sec. 9. Termination of Authority.
The authorities under this Act, with the exception of authorities granted in sections 2(b)(5), 5 and 7, shall terminate two years from the date of enactment of this Act.
This is put into the ‘draft’ in the hopes that a final agreement can be worked out in the end that holds the government less exposed to endless litigation from the trial lawyers. It is actually a good thing imho. We are already exposed enough as taxpayers with the bail-out!
Remember...this is a draft..they always go for very broad authority in order to increase the odds of essential proposals in the end.
It is very disconcerting though...no doubt about it.
Bwahahaha. If you pay any attention to "temporary" bureaucratic organizations in DC, you would put good money on finding this organization around 50 years from now. Second, the important powers are never ending, if you rad carefully. Third, you may have read section 8, which puts the decisions of the Secretary of the Treasury above the law.