"Rescue Plan Comes Around to Views of the Academics". I think it's early to declare victory--especially since we've yet to find out that if the government does what academic economists advise that it will help--but it does look like the government is coming closer to the view of most of the academic economists who have spoken out. (And there's even support for the academic view from other quarters: for instance, the plan Barry "The Big Picture" Ritholtz proposes is identical to Greg Mankiw's.)
"The Government is Contributing to the Panic". Fine piece by Jonathan Macey arguing that even the smartest government officials, pursuing well-intentioned olans, can make matters worse. (Note to those folks--you know who you are--who like to make ad hominem attacks on pieces such as this: Professor Macey is Deputy Dean and Sam Harris Professor of Corporate Law, Corporate Finance and Securities Law at Yale University, and Professor in the Yale School of Management. His degrees are from Harvard and Yale. If he is an evil "right-winger", he's at least not one of the usual sort.)
"Government Fear Itself". A Journal editorial also arguing that recent government actions have probably made matters worse.
No one wants to put private capital into a bank if it might be "AIG-ed."