Listen Mr. Bush before G20 Meet

Is it not astonishing that Bush now says that global financial crisis is due to failures by lenders and borrowers, the government, the firms and the independent regulators when he is on the verge of leaving the White House? He now advises other nations not to go for reinventing the present free market system or go for protectionism.He remained in power for eight years and could not control his own government, his own lenders, borrowers, independent regulators and now he preaches sermons to all Nations who have gone to attend G-20 meet. As long as one remains in power he lives in intoxication of power, enjoys it lavishly and accumulate wealth for oneself and his relatives as also his political group. Financial system is the core part of any living nation or individual .It is immaterial whether we believe in free market mechanism or protectionism. The main point to be taken care of is whether the rules are regulations meant for the system are seriously followed by all, whether there is regular monitoring and assessment of the results of the policy, whether there is quick punishment system to nip in the bud.Question is how lenders and borrowers in America misused the financial system in such a dangerous way that it shook the entire world financial system.The most important point is that even now whether Americans or any country even India is ready to learn a lesson from present global crisis?Whether we can bring such a stern act that whoever defaults in repayment of bank's loan will be booked to task without any differentiation? Default is default and whoever, rich or poor fails to obey the rule of repayment needs to be penalized to create a culture of repayment so that recycling of banks funds takes place properly and there is no liquidity crisis in the future.Why not hard action is taken on those bankers who sanctioned credit blindly just in the greed of higher interest or in the greed of some bribe (which happens in India like countries)?Why is there no proper and adequate control on assets? Why do assets become bad or sub standard?Government must examine to what extent lenders or borrowers are at fault and what are the gross mistakes they have committed. Government must introspect whether there is deficiency on the part of government and independent regulators also. The real culprit must be punished and proper steps must be taken to stop recurrence of such liquidity crisis which may jeopardize the health of world economy. Even Bush should be hanged if it is foud that due to his wrong policy the entire world suffered. The saddest part of the present crisis is those poor and middle class people who constitute 95% of the population of the world are the real sufferers. Obviously free market system has got no demerits provided the administrators and regulators keep their eyes and ears open every day and every moment. Even if we discard the concept of globalization, privatization and ongoing reform process and adopt the regime of controls as required under socialistic or communistic pattern of government we need to have proper set of rules and regulations and we have to ensure that the same are executed in field without any dilution. Those who violate the rule and those who fail to regulate and those who avoid awarding justice in time , all are equally responsible for the present global crisis.