American public is going to pay for this through its nose, because some bankers made extremely bad bets and got their bankrolled politicians to bail them out. The threat was global economic chaos. BUT its not the end of the story. Watch this space as America ends up paying many trillions more.

Jack Bauer, NY,

My short-term bearish trades are going to get crushed tomorrow morning. Thanks US Gov!!! It looks like I made some unwise financial decisions, will the gvmnt bail me out? I think not. They are the cause of the decisions turning from good to bad. If the markets look poised to go lower, buy stocks.

Joe, Lehi, USA

The great good sense of government controlled mortgage insurers introduced by FDR in 1938 succumbed to the Republican privatization mania in 1968.

It has been half a century to the year that the magic mania of privatization has run its course .

John Bellantoni, Sarasota FL, USA

In grounds where seeds of greed breed ... events follow that cause a famine.

Michael Levy, Fort Lauderdale, USA

WOW!! I admire the press release handing out this news in such a matter of fact manner.
Brace up for the storm in world financial markets. It’s not just a credit crunch but a possible risk to world financial system. it is getting closer to great depression.
!!!!All flock for commodities!!!!

Nitin, Cornwall,

A good step - should have happened long ago. Now they need to be broken up and re-privatised.

Chris, London, England,

They have only bought some time.

Fred, Moray, Scotland

R.I.P. the USD.

JIm Jones, Burton on Trent, UK

Funny, I don't hear anything from the deregulation camp. Where are the Gerard Baker's of the world now.
Basically this is the American taxpayer supporting the whole financial system. It says, don't worry, we will bail your losses out, but let you keep your gains.
This system is wrong and broken...

O.Levin, NY,

Let the good times roll!

Farrukh, Woking,

Seizes control? Try bails out.

C Byrne, Pinner, UK

The impact of this will be felt for some time. I would expect UK mortgage rates to rise significantly now.

neil, Oxford, UK

The Fed is now reaping the whirlwind that the UK is suffering & for the same reason. Brown split bank supervision between the Bk of England, FSA & the DTI, without defining the responsibility of each body, leading to no-one doing anything. Obviously the Fed wasn't watching US banking statistics.

Rob Bryant, Bromley, England

Perhaps Bush and his cronies should bring in Robert Mugabe to manage the US economic sleaze.

I recall Bush and Brown lecturing Mugabe anout economic responisbility even as they continued to undermine Zimbabwe.

America is controlled by the mob and even Israel has to take a back seat.

JOHN ISH ISHMAEL, TORONTO, CANADA

Facist Govt. for USA? Bush first dictator? One wonders what will be next>

james , checotah, usa

Socialism is gripping the land of capitalism! This is by a conservative govenment of Bush not by socialists or leftists! Margaret Thatcher once said " you cannot buck the market", but Bush and his team have done just that! Now, Americans cannot blame Europeans as leftists .

gary, LONDON, UK

I agree with you, Michael. They are turning private-sector debt into government debt.

Andrea, London,

The end of the Dollar!

Michael, UK,