will resign because they can't control the size of the balloons? Hedge funds and derivatives aren't regulated by any world markets--legally they're allowed to contract and swell at will.

Might an answer start with all countries forgiving debt, restructuring and stopping it from ever happening again or does the world just sit back and allow numerous countries to go bankrupt? England and the United States banking systems are currently, technically insolvent. When one bites the dust, what's the stop the rest who are on the teeter-totter from also electing to commit economical suicide?

like the city of Arlington, getting a new government and going broke.

http://www.tsl.state.tx.us/ref/abouttx/popcity32000.html

World leaders. Please.

http://mauberly.blogspot.com/

Iceland's coalition struggles to survive protests

IMF approves $2.1bn Iceland loan

Kaupthing becomes third Icelandic bank to fail ~ lotsa articles

Iceland's bank shares suspended

Usually governments, or presidents like GWB, do not step down when they become overwhelmingly unpopular.

In Latvia, where 90% of people want the government step down and a new election, they intend to introduce a new law which enables people to start a voting procedure to bring down the cabinet.

_{--Storm brings only richness with it}

Johanna Sigurdardottir, world's first openly gay leader, to take power in Iceland

The Times Of London, By David Byers, January 29

The world's first openly gay leader is poised to take power in Iceland with the appointment of a lesbian former flight attendant as Prime Minister following the mass-resignation of the country's government.

Johanna Sigurdardottir, 66, is to become interim leader until new elections are held in May following the fall of the administration of Geir Haarde amid huge public protests about the country's economic crisis.

The country's social affairs minister, Ms Sigurdardottir has been installed as head of an interim centre-left coalition featuring her Social Democratic Alliance and the Left-Green movement.

"Now we need a strong government that works with the people," she told reporters, adding that her new administration was likely to be sworn in on Saturday.