The NY Times’ Joe Nocera is the best business writer going. His Saturday column is consistently informative, deeply reported and understandable, even on unfamiliar topics.

Today, he provides a dose of calm in the AIG hysteria. He’s not defending AIG execs (or others who’ve already absconded with millions from other companies.) But, he says the political reaction is making the economic crisis worse. There’s a wealth of important context here as well as observations about bigger financial outrages going unnoticed.

In the end, I think we may look back at U.S. Rep. Vic Snyder’s refusal to join the hasty AIG necktie party this week in much the same way we look back at his vote against the war in Iraq.