Excellent but long post by Edward Harrison at Naked Capitalism.

This post describes what’s happening with the “Geithner Plan” for revised bailout of banks/ dealing with toxic assets in the context of an earlier bailout:  the Mexican currency crisis in 1994-95.  It”s many of the same folks involved:  Summers, Geithner, and a populist sentiment in Congress that the powers that be decided to go around.

Good read for both the current crisis and to review the Mexican currency crisis.