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I think national governments and central banks are and have been in - for at least 2 months in PANIC MODE.
My parents and grandparents taught me , and I learnt similar in uni too , that you do not keep throwing good money at loosing propositions - you walk away and cut your losses . Central Banks and Treasuries the world over are printing money as fast as they can and throwing it at failed companies and industries and not addressing the problem that caused the mess in the first place and , in my view will only make things worse , and deepen the financial catastrophy .
These companies being bailed out should not be , and the golden paracutes taken off the executive who lead the companies into their messes taken away too , and if the industries are so crucial they should compulsorily nationalised.
Too many economists and politicants are hung up on the globalisation thing as the fix to the worlds' problems - which it isn't , and to capitalism and free market consumerism being a good thing.
Russian Communism failed - so has American Style Capitalism and it's about time those in power realised this and took real steps.
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