From the Financial Times:
“Over-consumption and a high reliance on credit is the cause of the US financial crisis,” [Zhou Xiaochuan, governor of the Chinese central bank] said. “As the largest and most important economy in the world, the US should take the initiative to adjust its policies, raise its savings ratio appropriately and reduce its trade and fiscal deficits.”
I wonder how we're going to pay for all of these bailouts.
Hmmm.