no, no, no, NO!

NEW YORK - Stocks are surging with the Dow Jones industrials up more than 300 points following a report that the federal government is considering creation of a repository for banks' bad debt.

CNBC said Treasury Secretary Henry Paulson is considering creation of an entity like the Resolution Trust Corp. that was formed after the failure of savings and loan banks in the 1980s.

The Dow, which had been showing modest moves in the final hour of trading, jumped nearly 330 points to the 10,939 level following the report.

Well, of course they are. After all, what this means is that, once again, the American people will be asked to pay for the bad (unregulated) behavior of a few very greedy individuals. That once again the Republican philosophy of Privatized Profit and Socialized Debt is coming through for the wealthiest of us. That you can act in a manner which contains both stupidity and avarice, make out like a bandit, then walk away clean, letting others clean up the mess you made. This, apparently, was the lesson learned from the S&L crisis of the 80's (also a Republican decade), because while that particular unregulated fiasco cost taxpayers around $125 billion, this time the leaders of the financial sector have dug an even deeper hole, one which has spread itself around the world. How much do you suppose this crisis will cost?
In other words, the feudal tradition is alive and well in the great "democratic" nation of the United States of America. After all, those who have the money are the ones who deserve more of it, no matter how much anyone else has to work, right?
Wrong!
It's time to end this idea that unrestrained markets are good for the nation. They are not, as we are very painfully finding out, AGAIN. It would be different if a lack of regulation ever seemed to work for anything more than to make a few people extremely rich in a short amount of time before collapsing onto the rest of us, but it doesnt.

One definition of insanity is to do the same thing over and over again and expect different results. What part of Resolution Trust pt. II sounds sane to you?