Brad DeLong on the failure of macro

Brad DeLong has published a very readable essay called "Battered and Beaten" on the current crisis and the failure of policy to address the crisis. Another good DeLong post is "The Four Horsement of the Teapocalypse". Krugman has built on to this with his own thoughts on the intellectual and poltical failures of policy in a post called "The Instability of Moderation".