Communism died naturally, but Capitalism overdosed

The rise of Capitalism in the West during the last few decades had the elements of unbridled borrowing, lending and buying to stimulate economic growth. Which worked when many countries were rebuilding after several wars and end of colonolialism.
But the real underpinning of Capitalism should have been creating wealth by production, savings and meaningful investment in things that benefit the humankind.
The avarice that was practiced to an excess in the last few years when financial assets assumed more significance than real assets has brought Capitalism to its knees.
Regulation or lack of it was one of the contributing factors, the main factor being the unseemly pursuit of personal wealth by greedy and fraudulent means, led by the financiers of USA and UK and aided by the Governments either directly or silently. Manufacturing and infrastructure development was pushed aside. Now the World is paying the price and will pay it for a few more years.
Governments now should focus their energies on helping citizens to work, produce and save for a decent living. A moral sea change is required.
Will America under Obama lead the way or will it need a new leader with a new Phlosophy, may be from the East?