here

In general, CNN.com has been the worst of the worst when it comes to solid reporting going into this crisis (though, I don't even bother with Fox, so its possible there is one worse out there). However, this piece I think is good. I'm not sure how much of the Paulson Plan was determined by an ideological wall (IE, it was the last stop short of nationalizing the banks ala the European plan, and that was a bridge to far for a neo-con Market Fundamentalist dominated adminsitration), and how much of it was just an inferior set of ideas.

Its clear, though, that the European move seems to have worked- and its also clear that the US is re-modeling the 700bln bailout to mimic the European plan (though, weakening it, as the Government will not have official shareholding vote rights, as I understand it).

Again, its not a good place for the US to be. We keep looking like the "Keystone Superpower" time and time again over the last 8 years of the best damn government possible, we are assured by Fox news and the stalwarts here on the Zone.

Yeti