European Bailout in need of a Bailout

The much-heralded European $ 1 Trillion bailout seems to have largely fizzled. The Euro is trading at well below its value in US$ before the bailout announcement on Sunday. Also, Gold has hit an all-time record in many currencies. Things are getting more and more unsteady. When will the world learn that bailing out irresponsible banks, corporations or nations is not the answer and threatens a far worse global collapse as we are pledging more and more collateral in this exponentially expanding poker game.