Mr. Obama and the United States' Global Recession

The current global financial tsunami epicenter was the United States. Not only here in Southeast Asia, but around the world, this changes the game a bit. Notorious for telling the world how to manage their internal affairs - particularly in finance, the United States is - on the ropes. This is not lost on the folks that manage countries in my sphere. There are some interesting interpretations here. "Mr. Jeff, you tell us little countries how to manage money and our society. Now look at you...". Or, "America, you say we are corrupt. You have more experience therefor being more gentlemanly corrupt". Ouch. "Lending Mr. Jeff is based on income, not credit." Blammo.
In the United States banking sector, we created a cocktail of 50% bad judgement and 50% greed. Years ago, Conservative lawmakers battled the, 'a home for every middle class American' aspired by more liberal lawmakers. Lending assessment practices were junk. There was no good mechanism for audit. Brokers and banks didn't care. Their loan packages were bundled and sold. They all made nice commissions. I know two young people, under 30, that had nearly 500k incomes in 2006.
What to do?
Let the market take it's course. The United States government cannot save the day. This is primarily a private enterprise issue. Governments maybe able to buy time, but they won't save the day, private enterprise will. I maybe wrong, but let's see what happens over the next several months. I'm concerned this government bail-out money will be gobbled-up by recipients as finger food, followed by demands for a real sit down dinner.
Propping-up losers is never a good idea. As an example, Detroit came begging on one knee to Washington for money this week. Well, they produce inferior, old school product. Helping Detroit limp along without innovative work product is just not worthy of government money. Detroit's retort to this is, if they fail, there could be job lay-offs in the millions. True.
Detroit's record for propulsion innovation stinks. Innovation put the United States on the map in the first place and is the backbone to where we have risen and our only avenue to continue to do so. If Detroit cannot do better, for shame. Then get out of the game. We should not support or reward losers.
The global recession is soon to be on the mantle of Mr. Obama. Much of the world See's this man as the new Messiah. I don't.
The scent of socialism on Mr. Obama's breath concerns me deeply. Just the same, the world looks forward to his arrival in the White House. 'The big-bad-stupid-bully is on his way out and a younger, good looking, man that loves the world is on his way in.' Black in color - no problem. International cool. I agree.
The honeymoon soon begins. "Change" is clearly arriving in the form of old Clinton folks. The chance of Hillary Clinton as Secretary of State is a poor idea. My sense is either Clinton in the Obama cabinet would suck the air out of his words. In the event Mr. Obama were to draw either of the Clinton's deep in his lair, Mr. Obama would become their poodle. Mr. Obama is a nice guy with a shallow resume for the tasks at hand. I wish him well and believe interesting times lie ahead.