we're not the world economic leader anymore

http://www.bloomberg.com/apps/news?pid=20601087&sid=aPCz.TWS8j.Q&refer=home

So our ecomic system is so lax we can allow one guy to rip off people for $50 billion (yes that's a b). Our economic system is so lax we allow the entire system to go belly up because we don't want "government restrictions" on our financial institutions. Do you think after such collosal blunders were allowed that foreign countries will still look up to the US as an economic template? Nope.