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Worth reading:

Continental Drift - James Suroweiki helps explain why Europe and the US have a different take on how to tackle the financial crisis. Tyler Cowen chips in with a reminder about the impact of fiscal stimulus during German re-unification. (UPDATE: DeLong qualifies)

A one-page FAQ on the new plan to rescue the banking system.

Getting regulation right, with an interesting discussion about risk.

This is what happens when financial markets do not read my blog. Animal spirits indeed.

Schott's Vocab - a NYT blog on modern words & phrases. I enjoyed the "recession beard" - a beard with a story.