You have to read Bob Herbert's "When madmen reign" in today's New York Times :

When President Bush went on television last week to drum up support for the bailout package, he looked almost dazed, like someone who’d just climbed out of an auto wreck.

“Our entire economy is in danger,” he said.

He should have said that he, along with his irresponsible Republican colleagues and their running buddies in the corporate and financial sectors, put the entire economy in danger. John McCain and his economic main man, Phil (“this is a mental recession”) Gramm, were right there running with them.

Credit markets have frozen almost solid, banks are toppling like dominoes and brokerage houses are vanishing like props in a magic act. And who was one of the paramount leaders of the manic anti-regulatory charge that led to this sorry state of affairs? None other than Mr. Gramm himself, a former chairman of the Senate Banking Committee.

Where is Mr. Gramm now? Would you believe that he’s the vice chairman of UBS Securities, the investment banking arm of the Swiss bank UBS? Of course you would. A New York Times article last spring noted that the “elite private bankers” of UBS “built a lucrative business in recent years by discreetly tending the fortunes of American millionaires and billionaires.”

Toadying to the rich while sabotaging the interests of working people was always Mr. Gramm’s specialty. He was considered a likely choice to be treasury secretary in a McCain administration until he made his impolitic “mental recession” comment. He also said the U.S. was a “nation of whiners.”

The tone-deaf remarks in the midst of severe economic hard times undermined Senator McCain’s convoluted efforts to reinvent himself as some kind of populist. But they were wholly in keeping with the economic worldview of conservative Republicans.

We're looking to a new wave of robber barons, with company's like JPMorgan, UBS Securities, GoldmanSachs raping and pillaging with every negotiated "bail out".