One of the truths to come out of the 2008 financial crash is that trusting private or "semi-public" institutions to do the right thing in a deregulated system is risky for everyone given the current inter-dependence of the world's banking system and markets. 'So now what?', is the question at hand. In the end, those in debt will have to abide by the rules of those who hold their debt. Exactly what those rules will be is still being developed and worth our time to keep up with as each one us in the US have had a portion of the financial debt of private institutions put on to our back by the use of our future tax dollars to bail them out and further use of a tax burden to try to monetize that debt in order to stabilize those same financial markets.
Financial Crisis and Sovereign Risk: Implications for Financial Stability IMF High–Level Roundtable Opening Remarks By Dominique Strauss-Kahn, Managing Director, International Monetary Fund
