In How to prevent the next Wall Street crisis, he clearly puts the blame on Greenspan for this mess, as well as excessive CEO compensation and he literally calls the financial crisis a collapse of a pyramid scheme.

He has 6 points of reform to recommend and one of them is the the immediately maligned commission idea from McCain and a lot from the Democrats too.

This one is particularly dead on, he is just not mincing words (good for him!)

Secondly, we need to create a financial product safety commission, to make sure that products bought and sold by banks, pension funds, etc. are safe for "human consumption." Consenting adults should be given great freedom to do whatever they want, but that does not mean they should gamble with other people's money

Treasury sells $40 billion in bills for Fed at 0.30% and the article claims this is the first time in history such an action has been taken.

Proceeds from the sale will immediately be transferred to the Federal Reserve to fund its operations to improve liquidity in money markets. The sale was needed to help the Fed expand its balance sheets, which has been shrinking as it lent out cash to banks and primary dealers to keep the financial system working

Benchmark 10-year credit-default swaps on Treasuries increased 4 basis points to 30 today, according to BNP Paribas SA prices. The contracts have risen from below 2 basis points at the start of the credit crisis in July 2007 and are more than double those on government bonds sold by Austria, Finland or Sweden

From Bloomberg

from a historical standpoint it's hard to object to the government's mass bailouts since similar debt-producing methods were put into action to save the U.S. from the Depression; maybe we've been headed for socialism this entire time...