Here’s a good article from Bloomberg about economists’ reaction to the rescue plan:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNKGD.bJwmRA&refer=home

I am particularly intrigued by this quote:

Advocates for a rescue plan this week point to a seizing up of credit markets, reflected in elevated inter-bank lending rates, as reason for action. Some economists are unconvinced.

“I suspect that part of what we’re seeing in the freezing up of lending markets is strategic behavior on the part of big financial players who stand to benefit from the bailout,” said David K. Levine, an economist at Washington University in St. Louis, who studies liquidity constraints and game theory.