Second Life - Real economy on virtual property?

Second Life hit by the financial crisis? yes, well possible because the so-called virtual currency of LInden Dollars has nothing virtual but it's name as long as you can exchange it against US Dollars. Now that's interesting because what about Second Life regulated by the FSA or the European agency that may be created? and what about bankruptcy laws???
On Second Thought, Maybe Second Life Does Need A Bailout, (30th October 2008 - Tech Dirt)