Bailout 2.0 Reactions

Read them at your leisure:

• Paul Krugman isn’t sure what this says, but he’s working on some optimism. He also recycles a joke that I haven’t heard since the annual Deconstruction Wars at a bookgroup I was addicted to:

What do you get when you cross a Godfather with a deconstructionist? Someone who makes you an offer you can’t understand.

• Martin Wolf thinks it’s too little — he’s a fan of Nationalize Here, Nationalize Now.
• Nouriel Roubini is also a fan of Nationalize Here, Nationalize Now, but recognizes that the political optics are not good for this option.

• Brad DeLong really likes and respects Tim Geithner, but does not think that Tim handed in the assignment he was supposed to.
• Felix Salmon unwittingly bolsters my point about not using the market as a bellweather of much, but does (charitably) find Geither’s plan too vague.