Now We Can Read the Stimulus Bill

After the Stimulus Bill passed Congress in a rush, over 1,000 pages drafted late Thursday night and passed early Friday morning in the House and late Friday night in the Senate, we now have time to read the bill.  There are many, many surprises.  First, Wall Street has "discovered" a late Thursday night insertion by Chris Dodd that substantially increases executive compensation limits on all companies that have or will get federal TARP funds.  {Will the President refuse to enforce the new limits with an "executive reservation" ?] Second, state and local governments have "discovered" that getting a slice of the bailout money designated for states and local governments puts their fate in the hands of obscure federal officials when have substantial discretion. [How to lobby??] There will be more surprises, many more.  I look forward to the President's signing speech Tuesday [he is on vacation]; it ought to be interesting.