Whether the Paulson plan get passed does not matter in my opinion.
1. If it get passed, the rest of the world may loss their trust on the US government and raising money to finance fiscal deficit will become problematical.
2. If it cannot pass and no other bailout plan get passed, the above problem still exist.
It seems that Japanese firms are stepping in and we have to wonder how they will manage this wind-fall of management responsibility and liabilities in the future. The track record for Japanese is that they changed their wealth into a bubble and after the bubble burst, they got stuck in recession and stagnation for almost two decades. Do they have a big plan for their future? Doesn't seem to be the case if you look at Japan's political turmoils these days. But let's hope Japanese can once again be as innovative as they are for electronics.
So, if there is a good bailout plan get passed and the rescue of the economy is successful, the US economy may be able to hold on longer and experience a slower period of transforming. The problem is not even which bailout plan is good, people like an easy plan!
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