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[bob ford <bobford79 AT yahoo.com>]

This writer from UK, in todays's London paper, is making the assessment that 
the U.S. has done the smart moves, Europe has 'not', and that because of the 
actions here U.S. citizens can see the light at the end of the tunnel and 
real financial havoc has been averted.  ....bobford
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Excerpts:

"My view is that Washington has done what is needed to prevent the collapse 
of the US economy. It has taken over the entire credit system, after all, 
surpassing Roosevelt's New Deal."

 " The US government has become a bank. Yes, this is US socialism. What is 
the alternative? "

"An ugly recession is coming, as debt leverage kicks into reverse. The purge 
will be slow and punishing. Some 12 million Americans are already trapped in 
negative equity, but at least they can see where this might end."


http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3161588/Financial-Crisis-Who-is-going-to-bail-out-the-euro.html