I am in unsurprised dismay watching the Senate Banking Committee hearings this morning with Bernanke, Paulson, et al. Doug Kass gets it right in a comment moments ago:
It reminds me of a bunch of school kids who turned in their homework too late.
Spot on, Doug. Spot on.
Relatedly, Barry has 14 questions for Paulson & Bernanke. Agree or disagree, they’re worth reading.