Compare and contrast:
William Gross' what's-in-it-for-Main-Street essay
John Avlon's Questioning King Henry [Paulson] skepticism.
My late father-in-law was fond of saying "The only thing you do in a hurry is screw up." I'm starting to lean towards the skeptical view. Please note that Warren Buffett just plopped five billllyun [Dr. Evil voice] dollars into the market. Unless he's turned instantly senile, things can't be on the verge of annihilation. In dire need of reform and repair, yes.
Financial Armageddon, not so much.