Well, those economists (like Krugman) and analysts (like calculated risk & wallst24/7) who predicted this mess way back pre-'04 have finished analysing the Paulson plan. And their conclussion is that while the current situation is bad but W's rhetoric and answer is such a bad deal that it only makes sense if you assume they are trying to take advantage of a already bad situation to help out their buddies holding bad assets. The fact that their rhetoric and plan may make the situation worse I guess proves they are assholes.
And remember, these guys have called it correct for the last 7 years. So before anyone claims conspiracy or what-not, I am going with the track record.