Wall St. Implodes, but Bad Ideas Survive

The largest savings and loan and the largest insurance company go belly up. One trillion dollars lost in the stock market in one day. Two trillion dollars lost in housing values. Congress hands the Treasury secretary $700 billion in a panicked vote and heads out of town. This isn't the failure of one firm, or one industry. We are witnessing the collapse of a failed ideology -- what the famed investor George Soros calls "market fundamentalism," the belief that markets are always perfect and government should deregulate, cut taxes and get out of the way.