USA-Crisis in the Financial markets

There is a pattern here.
Every few years USA has to get into a war, using its arms and ammunitions and weapons and then rebuild/buy again. It used to be called the Military-Industrial complex. Now one has to add the Finance-Business to that complex.
Because now every few years the finance guys rip off the economy and common citizen by blowing and bursting bubbles (S and L Crisis, Junk Bond Crisis, Dotcom Crisis, Sub-Prime/CDO Crisis etc) which cost the tax-payer ultimately in rescue and recovery and more taxes. There are many Industry/Business/Military/Finance executives and Politicians in USA who benefit by this cycle with rich pickings.
The average Joe is expected to bail out the economy and nation repeatedly by assuming more tax burden, boosting consumption by taking on more debt .Meanwhile the USA goes deeper and deeper into debt. USA should have been declared 'Insolvent and Bankrupt' years back and other nations should have stopped investing there.
Now the whole world is suffering and will continue to suffer yet again.
USA seems to have ‘lost the plot’ and in the process ‘lost its cash/wealth too’.

I also think a good percentage of the $700 billion will be siphoned off into the pockets of vested interests and individuals who will be tasked with designing and implementing the bailout being discussed.
It is ironical that the Goldman Sach's former chief Paulson is leading the bailout which helps firms like Goldman more than the average Joe.
And Warren Buffet after investing in Goldman is pushing for the bailout. A clear signal that the Wall street executives and the big money men are all interested in using Government funds for their own welfare and profit.
The money should not be used to bail out banks and firms which bet on paper securities not backed by any assets. They should be left to die on their own swords.
If the US government has $700 billion to spend it should be used to directly help the homeowners struggling to repay their mortgages, by way of loan write-downs, interest rate reductions, tax credits etc. Congress should not buckle and should stand firm on not helping the corrupt and inefficient finance firms/executives.
And finally the mere fact that George Bush is supporting and rooting for the bailout should give pause to the scheme. He has a lousy track record. He is leaving a costly legacy by way of Iraq War to the Americans. He should not be given another chance in the last stage of his Presidency to screw up further the lives and finances of Americans for many years to come.