Good editorial from Paul Krugman in today's NY Times:

Cash for Trash

Krugman simplifies the crisis into a four-step catastrophe, and argues that it must be addressed at Step 2:
Quote
1. The bursting of the housing bubble . . .

2. . . . left many financial institutions with too little capital . . .

3. . . . they haven’t been able or willing to provide the credit the economy needs.

4. . . . the “paradox of deleveraging.”

[SNIP]

And if the government is going to provide capital to financial firms, it should get what people who provide capital are entitled to — a share in ownership, so that all the gains if the rescue plan works don’t go to the people who made the mess in the first place.

Steve
Give us the wisdom to teach our children to love,
to respect and be kind to one another,
so that we may grow with peace in mind.
(Native American prayer)