Well, the 'Wall street' has now become the 'fall street' and its ripple effects can be seen everywhere. This capitalist giant (USA) has been a witness to many such faliures in the past too, beginning 1970. But this 2008 wall street fiasco is the biggest one. Here check out this link given below. I got this in 'Mint-the wall street journal', one of my fave. newspapers. I found the story very informative and the presentations (in the paper) were excellent (given by Sandeep Bhatnagar of Mint). This full page story appeared on 3rd of Oct/2008 0n page number 20.
Check out HISTORY OF US GOVT. BAILOUTS