Urging Caution

Dan Larison can't quite buy into Michael Gerson-style bail-out enthusiasm.

If the consequences of rejecting the plan are as bad as the administration says, why would the plan’s primary beneficiaries not jump at the chance to have the government purchase these toxic assets? If they wouldn’t jump at the chance, doesn’t that suggest that things may not be quite as bleak as we are being told? Isn’t it then reasonable to ask why Congress and the public should be railroaded into accepting a deeply flawed plan?

Dare I say, typical of Larson (and I mean that in a good way), you can read more, and more, and more (with no doubt more to come) on his blog.