House Republicans, chiefly responsible for the failure of the bailout bill, are crying about protecting the taxpayers. That's a smokescreen. What they really want is unfettered capitalism. They fear government regulation. They don't get it. At this moment in history, laissez faire capitalism has failed. The regulation we have been dismantling for 30 years led us to a mess that will shortly work incredible hardship on those least able to deal with it. We invited most Americans into the market. They came. They bought. They invested life savings. Is that your retirement you hear going down the drain? Is that your pension annuity that a failed insurance company can't pay?

You are not alone. Money we spend abroad, does not return to buy goods and services, it returns as investment in real estate, the stock market, and long term government debt. It props up our economy. And it talks. If we fail to provide a stable investment climate, it will talk even louder. Here's the headline we should fear:

"European Calls for Action: Push for Greater Financial Regulation Gains Steam from SPIEGEL ONLINE - International

"Europe is furious at Washington's failure to agree on a bailout plan, calling Congress irresponsible. Increasingly, EU leaders feel the answer to financial instability lies in greater international oversight."

The message is clear: Dear Republican colleagues, if you do not clean up your act, we will do it for you. You may have the clout to stymie the American process, but we have the money and the clout to force you to do it our way. We have enough of your money to force you to European standards. Think Democrats want regulation, you ain't seen nuthin' yet.

Be afraid. Be very afraid.