What makes you think that government will do a better job? We have too many cases around the world where government intervention has only created more poverty and corruption.

The market will correct itself; it always has. Leave it alone.

William, good article and I agree with most of what you've said except for this. "But individuals responsible for irresponsible investment decisions must be punished. Not to do so, while offering bailouts with public money, will be to encourage reckless behavior."

To most of us, those risky loans and irresponsible investments would already be considered reckless.

But, just watch what happens to them. Like inside traitor george bush and his crooked brothers Neil, Marvin and Jeb, not to mention their daddy, george "Carlyle" bush, they'll make a ton of money and walk away unscathed to steal another day.

You see, what these types do is risky and reckless but not to them. To them there is a guarantee of a taxpayer bailout. The risk is all passed down to us who get to pick up the tab for these swine.

I do wonder though, how long will it take for all the great minds to come to the conclusion that the so-called global economy is nothing of the sort. It's actually a corporate economy that moves capital at the speed of light in order to get the best deal from too many all too willing governments who'll give them a tax free haven and slave labor as long as they get a piece of the action.

Who is to blame? Human being insanity leading to non-sens war.
the prevailing recession striking USA economy is due to a sick dollar because of war on Iraq, costing trilions of US$. The weakness of the Dollar is provoking a continuing uptrend oil price in spite of sufficient supply.
The worse is that this dramatic situation is leading to starvation ( bread crisis) in underdeveloped countries.