Yup, everyone was drunk at the punch bowl and didn't think of the hangover. Lend huge amounts of money to people who can't afford to repay it, what a great idea!
Democrats, Republicans and Al Greenspan were a nasty cocktail for the USA. This cake was baked a long time ago. It is now just a matter of who has the guts to take it out of the oven.
This is section C, page 20 news (it's not american idol, survivor, tougher in alaska or dancing with stars so it is not important). China stopped intrabank lending to ALL american banks in institutions last week (yes this include Hong Kong). It is now illegal to deal with US banks in this manner. Other countries are starting to move into the same direction.