Yes, financial institutions are crumbling, Halifax has gone bust and now Bradford and Bingley are going that way too. I hear of in the US a $700 billion rescue package and in the UK the government are stepping in to save various banks and building societies.

This is fallacious and ill conceived, , it is just the time for those in charge ( whoever they are ) to show some collective cojones and decry intervention. If these institutions are, indeed, not based upon sound business models they must, like some lead balloon or a triple headed sheep be allowed to become extinct.

Only this way will the future economy be freed of the obsolete financial ‘DNA’ of these failed businesses.