Financial crises happen from time-to-time. Greed is almost always a factor. The extent of the present crisis, however, was really a result of government mis-management. When bank failure is staring one in the face, the last thing a government should do is force the bank to close. Successful banking is wholly dependent on public confidence. Bank failure destroys public confidence. Greed certainly set off the crisis, though what the internal controllers, regulators and auditors were doing whilst the crisis was developing is a mystery, but if governments had acted to shore up the banks at the outset, as ultimately they were forced to do anyway, the crisis of confidence would have passed quickly and then the other problems could have been sorted out. But governments refuse to take responsibility and look for other scapegoats. It is wholly correct to reduce compensation in the financial sector partly because it encourages risk-taking but what has happened now is that banks take no risk at all (and still the massive compensation!). Banking is a business. I don't know of any other business that is not expected to take risk. It is abnormal risk that should be guarded against. Currently, the 'products' that banks offer pass all the risk to the customer. That is also a dangerous prospect.