Except for a shady corner or three

As one of the few Americans who's doubtless read the whole damned plan, Dr. Krugman's Out of the Shadows is something you might want to read. Especially since with Froomkin gone there's not too many mainStreamers willing to attack the One from the Left:

...Yes, the plan would plug some big holes in regulation. But as described, it wouldn’t end the skewed incentives that made the current crisis inevitable...

Which, like the economic fixes of the Reagan era, would pretty much make it inevitable the whole situation would reprecipitate itself later on... especially since even with the best of bankster fixes all hope for is Recovery Lite:

NEW YORK (Reuters) - The severe U.S. recession is likely to end by year-end but the recovery will be weak and leave the economy vulnerable to new shocks, according to some of Wall Streets top strategists.

Americans are trying to repair their household finances after losing trillions in home values and investments -- and as the savings rate goes up, spending will stay weak, strategists at the Reuters Investment Outlook Summit in New York said this week.

Several strategists said the economy would likely grow by only 1 to 2 percent in 2010 after exiting what has been the longest recession in decades in the third or fourth quarter of this year.

Dino Kos, a managing director of Portales Partners, said "2 percent would look really, really good" for 2010 given the economy's current profound weakness and the headwinds that still lie ahead.

Most agreed that consumer spending, long the engine of U.S. economic growth, could not be counted on -- especially as many expect the unemployment rate to continue to rise even after the recession ends.

The U.S. jobless rate could hit 11 percent before starting to recede, said Nouriel Roubini, chairman of economics research firm RGE Monitor. In May, unemployment hit a 26-year high of 9.4 percent...

A Recovery Lite, sort of like the non-recovery during the Bu$h Boom. Another bubble recovery, this time fueled by the Treasury and not your mortgage. It sort of makes you wonder when it pops, who will foreclose on whom, and what economic points of Lite will once again turn out to be the gleam in the eyes of the predators in the shadow.