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Geithner was instrumental in guiding Obama away from this heavy handed approach, as he recognized (I think quite accurately) that confidence was really the only thing keeping the system from crashing completely.

Which means that system deserved to crash, die, burn to ashes, and leave us clean ground on which to rebuild.

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Thought I appreciate the sentiment "just do the right thing and let the chips fall where they may" and try to live my life according to it, on a scale of countries and when hundreds of million of people lives would be affected, it's simply irresponsible and stupid.

You misunderstand. I don't mean, "do the right thing and let the chips fall where they may"; I'm not talking about deontological ethics.

I'm talking about the fact that the system does not work. It was and is ruining people's lives, and all the bail-outs (which have become systemic) did is prop it up for its few "winners" at the expense of everyone else. Economically speaking, the West is being transformed into Japan: a zombie economy run for zombie banks through zombie companies by ever-more-impoverished workers and propped up at the taxpayers' expense.

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