My 20-something son, film student, writer, waiter, asked me about AIG. So I launched into an explanation of financial leveraging in general, and credit default swaps in particular. He said he knew that stuff, but wondered what was up with those bonuses. That's trouble, as in Vietnam. The kids might have been low-key about Iraq, since only their gung-ho friends went. But when they see their personal future looking bleak, carrying large college loans, still waiting tables, they kinda notice the discrepancy between their lives and certain others'.

Frank Rich gave credit to a reader letter in the Times for being the first to ask if this is Obama's Katrina moment. I think the evidence is that only the media is fussing over the administration's somewhat confused actions, while people are wondering how it came to be that we need to save the asses of the richest financial "products" companies. Calling this Katrina for Obama is like saying Bush had to know how to deflect a hurricane. He didn't; he only needed to show he gave a damn, and tried to help (he didn't). Obama had already shown this, during the campaign when McCain couldn't show he even knew what was happening.

As (former) NC Steve points out, when many big names are disagreeing in a large way, it's clear no one knows for sure what to do. But some appear to care and others don't. 'Ware the mob, my worthies. You have angered them, and they outnumber you.