Negotiators agreed on a plan, they say.  Here is the full text.  Apparently it has these provisions:

• Treasury/Paulson can buy securities as prices it/he deems appropriate.  Unprecedented authority, lightly constrained.
• $700 billion is authorized, but won't necessarily be spent.
  
• Treasury should do what it can to maximize profit or minimize losses.  If mortgages purchased, Treasury should approve "reasonable requests for loss mitigation measures..." .
• Financial institutions that participate shall give an equity or debt stake to the government.

• Prices for purchase shall be the lowest "consistent with the purposes of this act."  I.e. wide discretion.
• There is an oversight board.  But made up of the Treasury secretary, the Fed Chairman, the SEC chairman, the Housing secretary, and the director of the Federal Home Finance Agency.  So Paulson, in part, oversees himself.  And no review by administrative law judges or courts, which is a major departure from the general law of agency decisions.

More details come from this article:

• On executive pay: 
• For companies making substantial use of the program, the government would limit the tax deductibility of executive pay to $500,000, prohibit “golden parachute” payments to departing executives, and allow the recovery by the financial institution of bonuses from gains that later prove to have been based on false or inaccurate information.

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