Recapitalizing

The new plan as Hank Paulson gets around to doing what liberals were generally saying he should have done weeks ago — partially nationalize the big banks in order to recapitalize them. Here’s the money involved:

To the best of my knowledge, this is the right thing to be doing. Of course there are a lot of issues with the details, and I don’t really grasp them all, like how, exactly, this tiering system that determines how much money everyone gets was worked out.