Wall Street, The Economy And The Bailout: News And Blog Opinion Roundup

The full gravity of the financial crisis facing Wall Street and the United States, and the implications of a massive government bailout, are just starting to sink in after a week when both experts and pundits were shell-shocked. Here’s a round-up of some news stories and blog posts from websites with varying opinions.

–The New York Times’ Paul Krugman is against it and believes it won’t work.

–The argument that it won’t work is explained more here.

–A summary of the case against the government bailout.

–Houston Chronicle: Gramm to the contrary, we’re not imagining this mess

–Wall Street Journal: U.S. Bailout Plan Calms Markets, But Struggle Looms Over Details

–Reuters: Paulson says US taxpayers at risk in bailout plan

–Economists see financial bailout as necessary

–CQ Transcript: Treasury Secretary Henry Paulson, Sen. Richard Shelby, Rep. Barney Frank Interviewed on CBS’ “Face the Nation”

–Patterico: Why The Bailouts Don’t Bother Me (Much)

–The Hill: GOP Turns On President

–The Politico: Exclusive: Foreign banks may get help

–The Peking Duck: Are You Watching?

–Josh Marshall: Put On The Breaks

–Newshoggers: Talking Points For Opposing The Bailout

–Matthew Yglesias: Buy The Companies Not The Assets

Cartoon by John Cole, The Scranton Times-Tribune