The Obama Administration announces a new plan that would use government money to entice private investors into the marketplace for the so-called "toxic assets" that are gumming up the financial works. Treasury Secretary Geithner explains the plan in this op-ed piece.

Paul Krugman doesn't like the plan.

Meanwhile, trade barriers are on the rise as politicians act with the same instincts that caused their ancestors to do similar things after the 1929 crash.

In Sweden, a right-wing government refuses to bail out Saab, much to the chagrin of the folks who depend on the automaker for their livelihoods. A prediction...Sweden's right-wing government (recently installed because of the failures of their socialist predecessors) will be turned out in the next election. Meanwhile, left-wing governments in America and Britain will also be turned out at the next opportunity. Right-wing/left-wing distinctions usually don't matter much to the great mass of voters. They only know whether it appears that the gears are turning properly, or not. If not, they "throw the bums out", irrespective of the ideological bent of the bums.

Before we throw our bums out, will we create a system more closely resembling Europe's? I hope not.

Robert J. Samuelson wonders whether capitalism can survive the present crisis. I think it will, since I believe that capitalism is merely an expression of the core of human nature, which is to compete with one another for resources in order to aggregate wealth and power, however it is measured.