The Fed put

is taken off. Well, actually not.

Our government is taking on more and more financial responsibilities that it has no ability to pay for. The fact that the Federal government refused to bail out this particular investment bank is meant to be a signal that it will let bad businesses fail. But with all the other bailing out going on over the past seven years, it's way too little and way too late. And the result is to add a further impossible burden to the next generation's negative balance.