Grove City College Economics professor Mark Hendrickson says the crisis hanging over the financial markets actually involves three major problems, all on the verge of spinning out of control at once.  He says, "We've got over priced houses, we've got a financial system that is ridiculously over leveraged and there's way too much debt to begin with."

Hendrickson worries Washington's rescue plans won't completely solve the financial crisis, which he says has been years in the making, predicting further economic turmoil regardless of what Congress may or may not do.  But he also believes election year lawmakers have painted themselves into a corner and now are convinced they have to do something.

For now, the question remains: how well this rescue package will work in forestalling the pain Hendrickson and others believe is inevitable?

One of the many ironies in all of this is that Dr. Hendrickson pins a lot of the blame for this economic mess on government going back through the last several Presidents and Congresses, Republican and Democrat.

And now, the professor says Washington is being relied upon to come up with a solution to a crisis it helped create.

In the meantime, the rescue plan is getting some high level support from none other than General Motors CEO Rick Wagoner, who sent an e-mail to autoworkers yesterday asking them to contact their lawmakers and urge them to pass the bill.

Wagoner says the rescue plan is needed to free up the credit markets so customers can obtain car loans.