State of the State

So I can't pretend to know the first thing about what's good or bad about the financial plans presented by the Obama administration. But Matt Yglesias provides a smart, commonsensical explanation. Doesn't look good.

Update: Matt provides more. Quote:

The Geithner Plan, even if all goes well, will leave us with a situation in which essentially the same large firms with essentially the same management still dominate the economy, but now with a bunch of added moral hazard.