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Every day brings another financial horror show,

One weekend, the Federal Government swallows two gigantic mortgage companies and dumps more than $5 trillion-yes, with a t- of the firms’ debt onto taxpayers, nearly doubling the amount Uncle Sam owes to his lenders.

The scariest thing: one of the nation’s biggest money market funds, the Reserve Primary, announced that it’s going to give investors less than 100cents on each dollar invested because it got suck with Lehman securities it now considers worthless.

Many borrowers showed no fear at all. Wall Streeters didn’t have to worry about regulation and they didn’t worry about risk. When greed exceeds fear, trouble follows.

There’s no question that the crisis has gone so deep that it cannot be halted by one stroke. Banks and other financial companies around the globe are struggling to pull themselves out of this mess.

Obama has called for increased regulation, which seems like a no-brainer, but he hasn’t articulated many specifics. Meanwhile, McCain has talked about ending “wild speculation” and railed against Wall Street greed.

Whoever wins will face a massive job of righting the financial ship and restoring confidence that has been badly shaken.

So the downward spiral begins…

We’ve lost credibility with foreigners; they will be less likely than before to lend us endless amounts of cheap money. Will that ultimately lead to higher borrowing costs? It’s hard to see how it won’t.

They’re all puking over the notion that it’s the same bums in Washington who caused the mess by allowing it to fester who are now demanding their money to fix it. It’s like the criminal who breaks into your house, hurts himself, then sues you for damages.

Both sides are equally despicable.
Republicans have never met anything they're not willing to sell - so long as it belongs to...