It has gone too far and is tearing up the society from inside.
Road to catastrophe starts with thoughtless break with tradition. It is actually a break from reality into their own fantasy(utopia.) They also want it clean abrupt and dramatic. It gives them some emotional kick and political dividend. The same mentality is at work in pursuing dangerous leveraged finance, repealing glass-steagall act, and dreaming of economy without downturn and ever-rising asset value.
I hope the current economic crisis does more than destroying dangerous bubble mentality in financial market, and destroy these mindless utopian crusade by liberals and socialists on social/cultural/political front. Their status in the society should be downgraded as well as crooked bankers. We don't need anymore 'enlightenment,' at least the kind they push.
Ping!
There is a fundamental error in the liberal approach of bailouts in western societies when addressing financial failure.
At the heart of financial failure, there are those who have values credited to them and those with those values debited to them.
Ultimately, when the financial failure occurs, there is a party who is unable to restore value to those parties whom have given the value.
An injustice has occurred in this situation.
Perfect Righteousness demands Perfect Justice. One might forgive a debt or redeem the debt of another and this is very central to the Judeo-Christian theology.
There also exists many unbelievers in the world, who don;t share Judeo-Christian values, but nonetheless very well grasp the concepts of righteousness and justice.
The west has incorporated many aspects of forgiveness and redemption in the schemes of financial bailouts, thinking we can generate a counterfeit for just financial covenants/contracts, without consequence.
The west has devised many schemes over the past two decades to get something for nothing at the expense of global and international markets.
Those in Congress today IMHO, have fallen mesmerized into thinking they can continue the international frauds, with more grandiose schemes, without consequence.
I fear there may come a time when no substance remains in our financial schemes, and those international debts are demanded justly without respecting any notion of redemption of forgiveness of debt. There are financial systems of thinking which are not so forgiving as those from a Judeo-Christian background. Toying with international markets where the players have no shared Judeo-Christian ethic, might brew a far more unforgiving and demanding just recompense than those scheming such affairs have ever considered might arise.