The main faults of our federal government in its approach to the financial bailout are two-fold: it has allowed the structure of the bailout to be designed and controlled by people whose roots are deeply embedded in Wall Street, and it has failed to suspend, ban, fine, and/or prosecute most (practically all) of the miscreants. Not surprisingly, these two faults are intertwined such that the implementation of one requires the implementation of the other.
Unfortunately, success in America for too many has become equated with the accumulation of financial wealth. Radix malorum est cupiditas. And may these modern day Cassandras of wealth creation schemes forever inspire disbelief.