When government cares not even recession is enough

Although I do not fully understand the scary phenomenon, I was instinctively pleased by the almost unanimous manner in which Western governments agreed to bail out their beleaguered banks and other financial institutions by providing them with guarantees and partially or wholly nationalising them. Together with the other measures taken, this was about enough to halt the almost certain collapse of the world's financial system and restore some level of investor confidence in it. Nevertheless, different gurus in this esoteric field continue to caution that despite the rescue plans, the world is not yet out of the woods, and much more remains to be done before we can be certain that the rescue effort has fully succeeded.