>When the Fed Chairman says "Credit is the lifeblood of our
>economy" he has, in a nutshell, said it all. The American
>people will be living through the results of their own greed.

Not necessarily. Multi-million dollar businesses are started by little people who don't have a lot of assets. They have to convince banks or whoever to lend them the starting capital to start those businesses. Without that, their business doesn't start, and no jobs are created. Few people (excluding myself) have enough assets of their own to start a successful business.

I would agree with you that there are a lot of people that spend way beyond their means. And they expect government to bail them out when the rest of us followed the rules and didn't indulge. That is frustrating.