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Incredible amounts of populist pressure not to be seen helping the banks in any way. It is idiocy, but it is the political reality of the moment. Has been since Bear Stearns day, really. All the top regulators know what it actually required, but they think they need populist political cover to do any of it, and the bomb throwers in the gallery do not care a lick what they burn down, as long as they can cast the blame elsewhere. It is just epic irresponsibility fighting political weak technocrats.

So basically they want a plan that helps the banks but don’t want it to be construed as helping the banks. If that’s the case, Geithner is definitely not the one to carry the water. He’s clearly not comfortable BSing-darting eyes-beads of sweat on the forehead.

They should get Bill Clinton out there to be the front man for that. He’d be perfect.

Saw today a plan might be announced on Friday to carve up AIG which might serve as a model to carve up other troubled institutions.

On Monday, supposed to be an announcement of more bailout money going to Citi. Wall Street should like that.