Is the world faces a new financial disaster?

Coincided anniversary of the collapse of Lehman Brothers, the U.S., among many recent global financial crisis, with warnings of a financial crisis, a new result of banks' exposure to sovereign debt. Again, crumbled central banks in major economies to pump more money into the commercial banking sector to avoid a contraction of credit again.
Amid all of this group discovered UBS Swiss Financial said one of its employees in London two billion dollars wasted, what little bureaucrat French Societe Generale bank, which wasted about 5 billion euros in 2008.
Some may not see a link between the accident UBS, and the problems of commercial banks exposed to the risk of European sovereign debt in the countries on the verge of default such as Greece and others.
Also did not tie in 2008 between the collapse of Lehman Brothers, as a result of its exposure to investment products related to bad real estate debt in the United States and the Societe Generale incident.
But what connects all those events, and is a key factor in the global financial meltdown that has plunged the world economy in a recession does not seem to Sikhr it soon, it is interesting that the term "derivatives."
These are innovative investment vehicles to rotate the debt, sovereign and commercial, and high profit rates than everything in the market and are seductive to investors in the financial sector.
A vicious circle financial crisis began more than three years with the collapse of the U.S. housing sector and the exposure of banks and lending institutions on its debt, as if to discover the global financial system suddenly bad mortgage debt with that he was the architect of all that debt and re-circulated repeatedly derivatives and bonds, securitization is different.
And dropped in the hands of the free market, which conventional wisdom says that he is fit itself without the intervention of the authorities, and requested the assistance of governments.
Governments intervened to pump more than two trillion dollars now in the banking sector rescue of bankrupt banks by buying bad debts so as not to collapse "regime."
Although the government did not consult its citizens to use their money (they pay taxes and fees) to rescue the banks and markets, but that everyone embraced reluctantly that no one can withstand the collapse of the system.
Valanhiar would hurt everyone, governments and citizens and investors, the hope remained that the rescue plans that can block out the economies of the recession to re-grow and repair itself again.
But it is clear now that the vicious circle that did not break decisively rescue and quantitative easing and the various names for government intervention citizens with money to help banks and investors in the financial sector.
Will succeed the final round announced by central banks in America, Europe and Japan to stop the financial meltdown and a return to growth, ie, break the vicious circle?
Difficult to answer this question in light of indications continued weakness in the global economy and recession in the semi-developed economies in particular.
Necessary fundamentals of governments and central banks, can not continue to provide support to the banking sector down.
Since 2008, repeated the process every time the authors estimated that the policies they adopted what is sufficient to solve the Almscalh active lending and pushes the economy to growth.
And to stop until the tour highlights the problem of requiring a new round of government support for the financial sector.
But now governments are no longer able to control the fiscal year amid growing sovereign debt and budget deficits.
The problem from the outset, that the politicians in the world have worked the advice of investment managers to the effect that the global financial system is in crisis repairs for governments to support re-sector role as a key lever for rapid economic growth.
And bypass everyone about the imbalance in the fundamentals of the global financial system, and did not have the political courage to address those problems, and only the root of all work "Prosthetic" for reform.
But with the continuing problem of fundamentals will explode from time to time a new crisis similar to the bad real estate debt and sovereign debt, and others.
At the moment governments can no longer intervene, what would be the result? Difficult to imagine.
The most important of those fundamentals that need to be aggressive is available is to allow "the system" to address the same, and the abandonment of the rule that there is a bank or institution "too big to fail".
If we withdraw it from banks and financial institutions to the State budgets, there must not be a country "too big to be bankrupt."
Measures do not support, assistance, and lending only to cover up the basic ills, which does not stop working on creating a new crisis.
Adventure to get So off banks go bankrupt, and leaves nations unable to repay its obligations to go out of business.
Then, get rid of the global financial system, along with one of the fundamentals of the economy affected disorder.
So also at the heart of freedom of the market, especially that exceeded that freedom can not be government intervention to ensure its continuation.