The Treasury department made a secret conference call to a long list of financial institutions about the proposed bailout bill. No, you weren't invited. You're paying for it; you're not supposed to know how the money will be spent. You can listen as an mp3 or another mp3, or via bittorrent.
Upshot: Paulson will evade basically all the restrictions that were supposedly put on him. It's all in the audio. If the Dems vote for this, they've been completely had once again and Nancy should be called "patsy" instead. Details after the break.
Executive compensations limits have no effect whatsoever on the existing executives, the ones that caused the mess (around 7:30-9:00)
The program is primarily directed at funneling money to perfectly healthy companies.
No equity need be given if a company's net is below $100 million. With modern "financial wizardry" any deal with any company could be broken into $95 million bits via a CDO and then passed to the Treasury in shell companies. So no equity whatsoever for the taxpayer.
Staging is fake. They can get the whole $700,000,000,000 within weeks. Technicalities allow them to evade the Congressional veto, if the President helps.
Hat tip to Yves Smith at Naked Capitalism. There's another source and some extensive commenting at dealbreaker.