At least Fuld accepted responsibility for decisions he made at Lehman, not that it will help much. There should have been action when Bear Stearns got in trouble. The only to sustain a consumer-based economy is with a debt bubble. Since nobody really knows how much bad paper (mortgage derivatives) and swaps (fancy name for unregulated insurance to cover the paper) was written, we have no way to gauge the size of the bubble. Estimates I saw yesterday put it at $50-60 Trillion globally. I'm grateful I have no debt to speak of and that I have no defined benefit retirement plan that I have expectations for.