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Whatever happened to the utopian wonders of free market captalism ?

We read that the President of the United States himself is trying to persuade the American Congress to act like Communists and take part in Central Economic planning with a $700bn bail-out of the banking industry. What ever happened to the much chanted utopian wonders of free market capitalism ? Source: http://www.guardian.co.uk/business/2008/sep/30/banking.wallstreet1

Public Comments

1. It got nationalised.
2. Well, well, well,...the pips are beginning to squeak! Welcome to the real world.
3. This bailout is intended to help everyone. When the big-guys go down, the economy (and the rest of us) go with them.
4. It's the American way. Anyone is free to buy the president and tell him what policies to pursue. It is nothing to do with socialism, it's just the usual government corruption. In the U.K. socialist policy was partly to blame. Punishing savers and pensions meant everyone bought property instead of saving. This meant property prices rocketed and with nobody saving, the banks were short of money to fund mortages. To supply the growing demand for mortages, some banks borrowed lots of money to lend out (should be illegal). When the cost of borrowing to the banks increased, the banks went bust. In the U.K. the banks have a collective insurance scheme which to some extent prevents the public having to foot the bill when a bank collapses.
5. free market capitalism only works when those who borrow money, actually pay it back. its ok the bank owning millions of houses when the tennant defaults, but they aint worth diddly if no one can afford to buy em...
6. I think the McCanns had something to do with it.
7. It lacked a conscience.
8. It was mismanaged, if managed at all. It answered to very few, and those few give me the impression they didn't know what to do. The dogs ran off their leashes, and everyone got bit.
9. It didn't want to break any rules so it got rid of them and went chaotic.
10. The greedy have speculated it out of existence. Now all we do is simply "exist". There is no other viable alternative.
11. Give us a break man !!!!!!!!!
12. Sure. The market is still free in time. Only running out of time. Request for extended time. Fed up with having a bar of "Time-out" Have to spend more time at the dentist. In solving sweet tooth. Luke 6.39-40,41-45,46-49 What do you think?
13. Wasn't it Margret Thatcher herself that said that you can't buck the market.Oh dear,plan B.
14. its still there, however temporarily put on hold
15. It was a lie. Free market capitalism aims to make a small number of people very rich at the expense of the rest. That's it. There is no component of social justice or national welfare about it. When things go wrong, it becomes a blinded monster which destroys itself. ...and we've allowed it to run the world. Oops...
16. It got nationalised.
17. Utopia/capitalism = Oxymoron. Moron = ?
18. I'll tell you after Yonkipur, ( spelling)