So the Wall Street guys have wrapped themselves up in huge amounts of unstable and explosive debt and somehow gotten on board our plane. Now they have taken over the cockpit and are deep in discussion with our representatives. How much of their accustomed lifestyle of power and greed can be saved and how much are we going to pay for it?

If they don't get what they want. Well you know.

Wonks Anonymous is not qualified to evaluate the deal that our betters are working out on our behalf. He defers to Paul Krugman on this subject. Krugman's blog for the past two days has been highly interesting reading for wonks. It will probably continue to be so.

To summarize Krugman's points: Things do not look good for us.

Wonks Anonymous would have more faith in the process if our negotiators had not been so completely blindsided by recent events which this humble wonk saw coming in July. He is also dubious because it appears that our negotiators belonged to the same radical free market sect as the terrorists just two weeks ago.