Its pretty simple. The way the world has worked for a few thousand years, is when people get into trouble, they fail. Confident people come along, re-organize the assets and start over.
In America and the west, what they've said was no no, we are going to let the incompetent people take over the assets from the competent people and let them compete with the competent people with their assets. This is not good. The Japanese tried this in the early 90's and the Japanese had two lost decades. Its not going to work. In Scananavia in the early 90's, they let people go bankrupt, they had a horrible two or three years but since they have grown dramatically over the past 15 or 20 years.
