The psyche of Americans are different from Europeans as the USA did not undergo the widespread destruction that Europe did during WW2. WW2 was the catalyst for the construction of the modern European welfare state, that the social security net is not merely a safety net for the needy but as a means of livelihood. It not only served materially as a defense mechanism but psychologically it also sought to ameliorate the memories of war. It leapt from one extreme to the other. Thus, universal healthcare, free university education, 2 months of paid leave, etc all became "human rights." I.e. to say there was consumption without recompense. In time to come, the younger generations in Europe forgot why this came to be so and took the present state of affairs as normal and "right", which is why competency and work ethic in Europe has been severely depleted with little to no understanding of the interplay between production, consumption and compensation. There has been utter dis-incentivization of the economic cycle in Europe. In fact, Many Europeans can tell you that they will only do the minimum possible in their occupations as there is "no point." This has been a crisis long in the making and this kind of mentality is not prevalent in the American psyche.
Preemptive nationalization could be a way to go http://www.elitetrader.com/vb/showthread.php?s=&threadid=202171&highlight=capitalism+reset but I get the feeling that we will resolve the crisis the old fashioned way: war, wealth destruction, etc
========== Great points; Some failing in capitalist system ; are much better than the failing is socialism, are much better than failing in commuism. Commies have a long track record of mass murders/thier people; including shooting peole with reading glasses. Seems anyone with an ability to read is a threat to communism. Mr Original poster, thank you for your testimony; but many millions think other wise. Come to find out the ''Wall Street Protesters'' make an above average income them selves, protesting Wall Street capitalism. LOL See how much any make in a commies country protesting; prison, beatings/death are a common commie protestors payday