Wall Street excess, incompetence, and corruption has infuriated even staunch capitalists.
Yet we also seem to be plagued with incompetence and corruption in our elected officials. And no matter how viral and intense your hatred for Bush and Republicans, there are even more among the Democrats; Blogojevich being the most recent.
Power in the hands of government is not the solution to the mistakes in the market. In fact the market is more harsh at disciplining bad decisions than Congressmen who tend to institutionalize our problems rather than solve them.
Just as a police force and court system does not eliminate crime; regulations will not eliminate corruption and market bubbles. Just as we are reluctant to empower our police too much, less they would intrude on on our civil liberties; we should be cautious in seeking too much regulation that would intrude on our economic liberties.