The big banks have their fingers crossed that the truth about the crap on their books doesn't leak out before the consumer is back on his feet financially. However, unemployment is up and stalled around 10%; consumer income has taken a hit, increasing the default risk on consumer debt. Housing is still a mess, with the best case being only that things have generally stopped getting worse in recent months.
Federal deficits are through the roof! Most states are in a financial bind, with several in serious trouble.
At least Greece seems to be trying to get its financial house in order; the U.S. is not!
The political hacks in Washington are busy trying to grab power, headlines and votes with "reforms" that are ill-conceived and totally unaffordable. The stimulus plans haven't stimulated much. The financial reformers haven't fixed anything. Our Leader hasn't delivered anything .... except for some teleprompter pep rally speeches.
We are at that point in the story of the Titanic where the Captain has appealed for calm, the musicians are playing, and most passengers think the situation has stabilized.
Is our story going to end differently? NOT at current course and speed!