Totally agree. Well at least we're now all on the right footing/path, sorting all this stuff out now.
Shows what a life style everyone lead before (on risk and greed) and the lack of safety nets in place (pre-Sept. 11th comes to mind). A new financial system will at least minimise this crap from happening again and also have a health/alert system in place. I'm sure that once things start to improve, the pension issues etc will be addressed in a reasonable manner and then flying will then become more realistic.
This will be major problem fixed, but what will be the next for the next recession? Is it possible to have a world without recessions with controlled growth and risk?
What we need to ask is what would have happend if this recession was delayed for a few more years = we would have had a bigger punch in the face.
This may stop people for the mean time getting loans, but my advice would be to try to save as much as possible for the future, therefore reducing your risk and size of loan required.
Be patient and let the governments/financial industries sort out the crap, especially as they caused it.