The melt down on wall street is exactly what happens when you have a Republican and a Republican congress. Their faith in letting the market decides means that everyone else, the hard working Americans who make life in this nation possible, suffer the consequences for the greed at the top.
Republicans always claim that communism doesn't work because it doesn't work with human beings. Humans are too greedy and selfish for communism to work. But Democrats never argue in favor of Communism. They argue for a mixed economy.
By contrast, many Republicans loudly and frequently talk about the merits of "letting the market" decide. What they don't realize is that laissez faire doesn't work either. We don't have anything approaching that but plenty of right wingers think that the solution to our economic problems is less regulation which just results in the mess we're in.
In reality, greedy people who know how to game the system tend to work with like minded allies. The result is you get greedy CEOs who protect one another and collude to enrich themselves and concentrate wealth not based on merit or "market forces" but through pure manipulation or gaming of the system.
So much of the wealth in this country is taken not by those producing a product or service but by people who just know how to manipulate the market, play the system, and skim off the labor of the millions of Americans who ultimately pay the bill when their short-sighted schemes fall apart.
McCain and his Republian allies don't understand this. They sometimes call for more oversight but it's a bandaid. What America needs is leadership from people who understand that the strength of our nation isn't just from the top 1% but by the hard working men and women of the entire nation.