Island Press Field Notes

When the leaves of New England begin to glow with crimsons, purples and golds, many of us remember that it's time for crimson, purple and gold apples to be picked, packed, sequestered in storage sheds, or processed into cider, butter, sauces or pies. Apples exemplify that taste of the fall for many of us, but just what kind of apples we taste depends upon just where exactly we live, and how well we know our neighboring orchard-keepers.

Congress passed the bailout plan with a price tag of nearly a trillion dollars, but the ink was hardly dry on this new Monopoly money when quite a few experts began to predict it wouldn't be enough. Some estimates hope the "investments" that taxpayers will make in bad debts could ultimately turn a profit, but how likely is that?

Scientists tend to distrust conclusions that are not based on empirical data and adequate sample sizes. So take what I'm about to say with a large grain of salt, since it is neither empirical nor based on sufficient data.

As Washington and Wall Street dicker over a financial rescue plan, everyone is missing the real opportunity to fix the problem. Some see the variously proposed plans as bailouts of dumb borrowers and dumber lenders, while others view it as a chance to restore liquidity to the marketplace so we can all have access to credit again, whether it's for student loans or to finance the acquisition of industrial machinery.