The NYTimes' Paul Krugman takes on the crowd that wants to give the Bushit Assministration $700 billion with no-strings-attached to bail out the financial system. Krugman's proposal would be to use taxpayer funds to provide capital to the financial institutions, rather than simply giving the financial institutions money to cover bad business deals and reward the wheeler-dealers who fouled up. In return, the taxpayers would have ownership of the business and reap whatever downstream rewards would come, similar to the process used for the savings and loans in the '80s.
Trusting the crowd that has said over the past year that the financial crisis was "contained" with a no-strings-attached handout would be crazier than trusting them in the first place.
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