Comment O' Teh Day: UPDATED

My guess is that the solution for our financial crisis is going to come from a surprising, unexpected source. I don't think the people who were part of the system before it imploded are capable of stepping back and seeing what they have wrought and coming up with a fix. We need some Bolivian priests to burn some sage leaves over a fire and look into the smoke and give us the answers.

Made in thread of Robert Reich's analysis on TPM of Geithner's announced "plan" today.
I remain, like Krugman, "terrified."

UPDATE:
Then there are the commentors who can get to the crux of things because they don't have to identify themselves to readers.
I want to believe Saladin knows what s/he is talking about:

There is no new solution, and Geithner is being set up as the designated future fall guy. I noticed it last night when Obama singled him out and said he didn't want to comment on Tim's plan. Then the NYtimes article came out clearly laying out the groundwork for Geithner to own this. The plan is the same as what we have been doing for the last two months the Fed on overdrive and Treasury and FDIC stepping in when necessary.
I think its a damn smart play, buys the Obama team a few more months of stability for the money the Fed is printing to make its way out the back door. If the national mood continues to shift left they can nationalize or if need be throw the tax dodger under the bus.
I mean what were they going to do? The entire financial world knows that a regulation overhaul is coming and therefore will not act without knowing what the new landscape will be. Outright nationalization that directly wipes out shareholders without having that landscape in place will scare off everybody, particularly our foreign finacers (I want to bring back the guillotine as much as the next guy but we can't handle a stampede of cash out of the country).
If one Zombie is really bad have the FDIC take it over or do it on the down low (Like how Bernake enforced the Merril/Bofa merger). The Fed is running the presses and team Obama is waiting for that to have an effect. That is where the money is going to come from hence why they were 'vague' on the sources. They can't straight up tell you that they are inflating the problems away, but that is what they are doing.

Posted by Saladin