How does the Geithner plan work?

Over the weekend: Mark Thoma explains the Paulson plan, the Geithner plan, and nationalization: Government Intervention in the Market for Toxic Cars.   Brad Delong is more focused: The Geithner Plan FAQ.  Nemo at Self-Evident works through some simple examples: The “Geithner Put”, part 1; The “Geithner Put”, part 2 (thanks to Tyler Cowen at Marginal Revolution for the tip - one of Cowen's readers explains how to game the system: Gaming the Geithner plan?).

Paul Krugman doesn't like the Geithner plan at all: Financial Policy Despair; More on the bank plan.  

For reporting, Delong recommends the Wall Street Journal's Deborah Solomon  Here are Solomon and Randall reporting this morning: Treasury Plan to Deal With Toxic Assets Banks on Private Cash . Timothy Geithner defends his plan: My Plan for Bad Bank Assets.