News that the head of one-time US financial giant Lehman Brothers, Richard Fuld, pocketed US$300 million over the eight years that he steered the company into ruin must make many of us wish we were in industries where poor performance can be so rewarding.

To many, it also goes a long way to suggesting a clearer direction for governments in future dealings with business.

As BBC reported this week, the mighty Mr Fuld even went as far as "requesting multi-million dollar bonuses for departing executives just days before last month's collapse." In other words, on one phone line he was begging Treasury for a rescue plan, while on the other he "continued to squander millions on executive compensation," reported BBC.

Still, Mr Fuld did admit he felt "horrible" about what happened to the company. Which kind of makes it alright, surely.

What irks many of us watching these men in perfectly pressed, high-thread count shirts, is the fact that in brighter times, they were the ones helming our economies. And advising government to stay out of their business. Under theories long espoused by business leaders, the idea has long held that the best people to run business are, well, business leaders themselves.

It is hard not to think now that they were wrong, at least in part.

The issue is not one of rushing into excessive regulation, abandoning free trade, or pegging down currencies. It is true that in general, open economies do better than hampered ones.

But in a week when Asian stock markets tanked region-wide, many must be wondering whether past critics of strong governments aren't now eating sizable portions of humble pie.

Take a look at economies expected to remain relatively "stable", socially and economically. China. Poland. Brazil. Yes and Indonesia. All emerging economies yes, and all economies that have a long way to go to rid themselves of corruption, and feed their poorest. But also, all economies once accused of adopting "failed" social and economic policies.

There are too many conflicting reasons for these fortunes to go into here. But amidst all the clatter of noise that this crisis evokes, a few things seem clear. There is nothing wrong with strong governments. The Unites States is not always right. And business does not always act in the best interests of the people.