So, I am going to write a short commentary, and people probably won't like reading this one.

Debt is whittling away U.S. economic power, from International Herald Tribune:
...Debt helped create the housing bubble and has now left almost one of every six homeowners with a mortgage larger than the value of their home...

Mortgage is using money that you don't have. Like, buying a house that cost a hundred thousand dollars, and only having ten thousand, so mortgage would be using ninety thousand dollars that people don't have. Supposedly, this crisis is only about the housing market, with everyone borrowing and using money they don't have.

However, that's the micro.
At least the people borrowing from banks are borrowing money that exists.
The banks depend on the Federal Reserve Bank. The Federal Reserve Bank, created since 1913, also borrows and uses money it doesn't have, but from nowhere. So the people borrowing mortgage depends on banks, the banks depend on the Federal Reserve Bank, the Federal Reserve Bank rests on nothing, except the make-believe that all the money created out of thin air is worth something.

There is no policy, in a few days, or few months, that can mend nearly one hundred years of lying. And whoever imitated the US system in making a central bank that creates make-believe money, will go through the same difficulties (understatement) as the United States.