Moral hazard rules America now, as Ben Bernanke and Hank Paulson have declared that nothing can fail and all will be bailed out--no matter how egregious the failing of the enterprises. Creative destruction is dead and socialism lives! Long live socialism. Can I wear my Che Guevara shirt now?
I can't help but to ask one last sarcastic question: is it contained now? Or, excuse the cliche, will another shoe drop?