The Current Discussion: Will the U.S. financial crisis lead to an erosion of U.S. influence comparable to the Iraq war?

Naturally, the U.S. financial crisis will decrease the relative moral and material weight of American leadership. The irresponsibility of large banking institutions, the probably criminal behavior of very important companies in the stock market, and the continued negligence of the government show that today in the U.S. unscrupulous behavior in the economic arena is not an isolated phenomenon.

This is serious, given that the U.S. is not only the most important nation in the planet, it is, as well, a sort of role model to the rest of the world. With what moral authority can the U.S. government fight against international corruption, defend transparency and preach the virtues of globalization after this shameful spectacle? There is no doubt but that this crisis will severely affect America's ability to influence the rest of the world.