Sec 8. Minimization of Long-Term Costs and Maximization of Benefits for Taxpayers.

(a) Long-Term Costs and Benefits.–The Secretary shall use the authority under this Act in a manner that will minimize any potential long-term negative impact on the taxpayer, taking into account the direct outlays, potential long-term returns on assets purchased, and the overall economic benefits of the program, including through improving the economic activity and the availability of credit, limiting losses to the savings and pensions of individuals, and reducing losses to the Government.

(b) Use of Market Mechanisms.–In making purchases under this Act, the Secretary shall maximize the efficiency of its use of taxpayer resources in making purchases by using market mechanisms, including auctions or reverse auctions, where appropriate.

(c) Direct Purchases.–Where the Secretary determines that the purposes of the Act are best met through direct purchases from an individual Financial Institution where no bidding process or market prices are available, the Secretary shall pursue additional measures to (a) ensure that prices paid for assets are reasonable; and (b) share potential benefits or losses of the purchase to the Financial Institution, including, but not limited to, warrants, loss participations, or other similar mechanisms. In determining whether to engage in a direct purchase from an individual Financial Institution, the Secretary shall consider the strength of the Financial Institution in determining whether the purchase represents the most efficient use of funds under this Act.

This should ease some people’s concerns about Paulson making decisions without any review.

Update 09/24/2008: The former Section 8 is now Section 12, and has been expanded to 39 words. There is no way I’m going to support the Paulson Plan unless there is some sort of review and oversight process.

From the Wall Street Journal (subscription required):

On the Web, Signs of a Click Recession
Google Feels Pinch As Ad Growth Slows; Sweeter Deal for Yahoo?
By KEVIN J. DELANEY
February 27, 2008

Internet advertising may be showing itself more vulnerable to a consumer slowdown than many in the industry had hoped, according to new search-ad data released this week.

The report from research firm comScore Inc. showing a decline in the number of consumer clicks on Google Inc. search ads in January amplified existing concerns about the effect of a broader economic slowdown on the Internet. Many online-ad experts have played down such worries, predicting any economic weakening will be offset by a continued shift in ad spending from traditional media to the Internet. Google Chief Executive Eric Schmidt said the company hadn’t seen any impact from macroeconomic softening when the Internet company reported earnings Jan. 31. But some investors and analysts have grown anxious in recent months that any pullbacks in consumer spending would hurt online ads.