Paul Krugman's headline, Authorization for the use of financial force captures it.
Sen Dodd and Congr Boehner on This Week this morning, essentially said the same thing, paraphrased below:
"I was at a meeting where secret information was imparted that is, trust me, so scary that we have to do what the President wants us to do."
I know nothing about this stuff, but Krugman hates it and Reich seems dubious. {He has nowlaid out the conditions for supporting this legislation and each of them makes considerable sense]. I trust them.
Secretary Paulson essentially refuses to discuss anything except "his" plan. Of the two of them, I trust Bernanke more than Secretary Paulson, mainly because Krugman does. See also this. I would not move this bill, without Bernanke's testimony in public.
I respectfully submit that if this is the emergency they all claim it is, then back to the drawing board. Today. Before the markets open since I know that anything short of what They want, will cause a huge problem when they do.