As The Dust Settles

Felix Salmon sums up the reaction to Geithner's banking plan:

I'm beginning to detect something of a pattern here: there are no really full-throated supporters of this plan outside the Administration; there's no one who thinks it likely that nothing will go wrong. Instead, there is a group of people who have reasonably concluded that this is the least-worst option, in light of political constraints: essentially, it's better than nothing, which is the only realistic alternative given that Congress is in no mood to pass anything bailing out banks right now.