Don't take this as being aimed just at the US, the UK is just as bad. This financial crisis is very simple. We borrowed too much money. We effectively borrowed it from people who save, both at home and abroad. We borrowed through "wholesale" money markets. When they realised that we had borrowed it for things that just aren't worth what we paid for them, mostly houses, they decided they wanted their money back. And the base mantra of banking is that you don't throw good money after bad. This isn't as simple as saying, we need credit to flow again, because who in their right fucking mind is going to lend these people money again? Not only that, because they fucked up, normal working capital for everyday sensible business has also had the tap turned off. Enter the Governments, and don't give me any neocon shit, they have to come in and underwrite the shit loans to shit payers because if they don't we all go down. Now my point. If you have borrowed more money than you can now afford to repay, or more than the asset you bought will be worth for some time to come, what are you going to do? Correct, we allow people to walk away from their debts. We have this laissez faire attitude to risk being acceptable without responsibility for the consequences. Well, I for one have had enough of this. If you were just a spoiled spendthrift or a dumbo who lost all rational perception of value, tough shit, you can spend the rest of your life repaying it. You are the ones that the Government is bailing out along with the dumbfuck banks that lent you the money. Of course when I say the Government, I mean those who pay taxes and create real sustainable wealth. Time for us to get pissy irrespective of political party. If you fucked up get used to a world without credit. Please continue.