Chris Dodd FTW
And that's not something I say very often.
Sen. Dodd's plan would not allow the Treasury Department to purchase any assets "unless the Secretary receives contingent shares in the financial institution from which such assets are to be purchased equal in value to the purchase price of the assets to be purchased."
I don't agree with some of the rest, like tacking on an executive compensation bit. It's not that I think slimeballs execs should get a free pass, or be able to slither away with their bazillions, it's just that if your goal is to buy up a ton of lousy debt, exec comp is too complex to be handled here.
Nice to see Congress grow a spine, slow Paulson down, and refuse to sign the blank check -- at least for now.