We develop a controlled weak coupling renormalization group (RG) approach t
o itinerant electrons. Within this formalism we rederive the phase diagram
for two-dimensional non-nested systems. We then study how nesting modifies
this phase diagram. We show that competition between particle-particle and
particle-hole channels leads to the manifestation of an unstable precursor
fixed point in the RG flow. This effect should be experimentally measurable
, and may be relevant for an explanation of pseudogaps in the high temperat
ure superconductors, as a crossover phenomenon.