Iron Man vs Lois Lane

The financial world is in need of a super hero. Sadly, none appears to be in the offing. While the US Federal Reserve no doubt would like to take on the mantel of Hollywood's latest creation, Iron Man, it seems destined to play more of a supporting role. Indeed, the Fed is beginning to resemble the indefatigable Lois Lane, forever dicing with death. Its seemingly futile slashing of interest rates - and one wonders what will happen when it runs out of quarter points - has done little to avert the crisis.

Distrust and uncertainty prevail. No one seems willing, able or ready to coerce or cajole the main players into coming up with a collective solution.

Globalisation, which is blamed as much as hedge funds for causing the economic chaos, is what seems to be holding everyone back.

The "inter-connectedness" which led the Fed to forego moral hazard and rescue Bear Stearns is what also appears to be handcuffing regulators, central banks and the financial sector itself from attempting anything close to