The major problem of the bailout

I was waiting to see the text of the bailout, but the terms have been released to several news agencies already. There is a big problem with this legislation:

“The Treasury secretary’s power to purchase assets would end on Dec. 31, 2009, although the next administration could seek a one-year extension. The assets could be held indefinitely and sold when the housing market recovers, theoretically for a profit.” (emphasis mine)

I don’t want the Treasury Department owning mortgages indefinitely - which was a point brought up by Drinking Liberal during yesterday’s show. This is another government goat rope. There needs to be a definite sunset of this program spelled out in the terms of the legislation.