Move to Russia
Bollocks. The banking system is riddled with the kind of mentality that allowed this sub-prime fiasco to happen in the first place. Moving won't help.
The only thing to do is make financial managers of all walks understand that you cannot indefinitely make money out of thin air.
There are enough examples already to make that a basic point in financial studies.
1) The Internet bubble (Y2K people, not that long ago) showed that pretty websites and free deliveries did not a business case make. That mistake cost billions to idiotic investors (hey, it's financial Darwinism, right ?), so they went on to
2) Enron and playing both sides of a virtual issue against each other under the guise of "insurance". Throw in a large chunk of "creative accounting" and you end up with hundreds of thousands of 401K plans shot to hell, and people old enough for retirement having to go on (or get back to) working. That is a lot less fun, especially since this time the victims didn't actually have anything to do with the problem.
And now we have
3) Banks, the very staple of the economy, those who guarantee the concept of money in the eye of Joe Public, who start going for virtual gains as well. The sub-prime crisis is nothing but an Enron-style Internet bubble - lets put this down as an insurance problem and get people to subscribe - something no banker worth his Armani suit should have underwritten.
The whole economy is permeated through and through by the mentality of "let's invent some insurance for this and we'll be rich", forgetting that insurance deals can be called upon to be realized. The insurer does not always walk away with the pot.
It is high time we removed "insurance" from financial deals and left it with insurers. Banks should be banks, end of story.