I think the Paulson plan is bad, and is dead in the water
 

$700 billion to buy these bad securities is unnecessary, doesn't place the burden on the bad businesses, doesn't allow bad businesses to fail, and frankly creates a moral hazard.

The RTC handled bad loans of banks that ALREADY FAILED. The Paulson proposal plans to take on all these bad loans of existing banks, and let them just keep going!

Don't tell me that this is the only way to get liquidity in the market. Not true.