At the time I'm writing this, Americans are furious about the recent Wall Street bailout. At a time when many are economically pinched, they are outraged that politicians would consider giving the very companies that created the financial mess a "gift" of such epic proportions.
Since we are now at year-end, with the crisis hopefully in check, let's reflect on this a bit. The natural tendency when we read about bailouts is to get angry. Why did Wall Street's greed get so out of hand? Why didn't government do something to rein it in? What will the economic impact be on our long-term finances and on the well being of generations to come?