The really damaging aspect of this is the U.S. and corporate America tries to sell itself as the 'shining city on the hill' of ethical business practices. to some extent it worked, foreign firms that were caught bribing or cheating were ostracized. Unfortunately now all the Chinese, Japanese, Russians, Saudis and other vermin of the business world will sit back and gloat how we're no better than they are, perpetuating the cycle of greed, corruption, cheating. in other words, God help the few honest business people out there because while ethical business practices are good for your soul they'll likely put you out of business. You can not divorce fundamentals from your charts! This is the real thing IMHO and the markets will get a lot worst before they get any better.