This is how I understand the banking fix:
The left, led by Paul Krugman, believe all the bank assets are bad because of the tainted mortgage-backed securities, and that the government should just take over the banks and get on with it. Nationalization.
The right, led by who knows who, thinks that banks should be allowed to fail without any intervention.
The Obama administration, led by Timothy Geithner, believes that the mortgage-backed securities didn't corrode all of the banks' assets and that after getting rid of the bad assets, banks can run like they're supposed to. A hybrid fix.
Does anyone really know what fix will work? I don't think so.
