Emergency Internet Bill - Give Obama Power to Knock Private Companies off the Internet??

A bill proposed this spring giving the White House power to knock private sector companies off the Internet in a so-called "cyber security emergency" has civil liberties and Internet groups concerned. A new version has been drafted by aides of Democrat Jay Rockefeller from Virginia. CNET got their hands on a copy and says it's still troubling due to it's vagueness.
Details from CNET can be found here.