[AndyJackson]

Last chance to avoid financial system failure

The financial system has failed. That is not a debatable point. The question is how to clean up the mess to ensure that the broad economy will start to function in the manner resembling a productive first world economy and not a debtor nation sucking on the world's credit and prodcution excesses. The other question is how to allocate costs and how to restore some sort of moral justice to the world by exacting penalties on those who executed the old system in a manner mostly to their own benefit.

[JasonC]

There isn't an old system and some new system. There is only reality. You adapt to what it requires pragmatically, or you fry. Facts are bloody stubborn, and don't give a damn about your moralizing.