The House votes

It still looks like the House will vote on the bailout bill today. I hope the vote-counters do their job before bringing it to the floor.

Anyway, I think Paul Krugman has it right in today's New York Times. Hold your nose, and vote "yes".:

The House will probably vote on Friday on the latest version of the $700 billion bailout plan -- originally the Paulson plan, then the Paulson-Dodd-Frank plan, and now, I guess, the Paulson-Dodd-Frank-Pork plan (it's been larded up since the House rejected it on Monday). I hope that it passes, simply because we're in the middle of a financial panic, and another no vote would make the panic even worse. But that's just another way of saying that the economy is now hostage to the Treasury Department's blunders.

Despite this, as I said, I hope the plan passes, because otherwise we'll probably see even worse panic in the markets. But at best, the plan will buy some time to seek a real solution to the crisis.