It might be better for everyone if we could partially unwind globalization (some people might be able to solve some problems more easily in a beggar-your-neighbor scenario), but that trend is unstoppable. What these major crises do is: a) make some already rich people incredibly wealthy by their picking through the spoils of the devastation; and b) create opportunities for people who, under normal circumstances, would never make the grade to get all the way to the top. In this environment you have to be incredibly ruthless and goal-fixated to succeed. The current global crisis should produce a bumper crop of these ambitious individuals.

It is the old story of the difference between a problem-preventer who does his best to ensure crises don't happen, and the problem-solver who leaps in to grab all of the glory for solving a major problem (even if he contributed to the problem in the first place).

Centralization of power and financial authority is superficially attractive, because it seems to make complex problems more tractable and manageable. This attraction will be irresistible, even though we all know the fate of centrally-controlled economies. People will willingly sacrifice long-term benefits for the perceived advantages of stability and predictability, even if these are ultimately an illusion. The "blame-game" and the following witch-hunt alone will ensure that new, uniform rules and regulations will be accepted in order to hunt down the guilty parties.