In this fiscal crisis, the public wanted one big thing to quote Archilochus: A reform of the banking industry that offered federal-guaranteed lines of credit to ensure liquidity, and a new transparency so investors would at least know that their supposedly blue-chip AIG stocks or Lehman Brother portfolio was, in fact, a house of cards based on the serial reselling of sub-prime mortgages—and in the end hinged on whether a wage-earning Bill Smith in Merced could keep servicing an 8% loan on a $400,000, 3,000 sf home that he bought with no down payment...