Turning Swedish?

The Frank/Dodd modification to the Paulson Plan opened up the possibility that it could be implemented as something much more like a Swedish-style (or, now, UK-style) partial nationalization. But most observers assumed that since Paulson would be in charge of implementing it that we wouldn’t go in that direction at least until January. But Justin Fox says that at his press conference today, Paulson seemed to be changing his tune and hinting at a Sweden/UK-style implementation. Krugman says that’s what we ought to be doing.