So, I guess our society is not based on capitalism after all.

[LeftyFingerPop]

So, the fed funds JP Morgan to acquire Bear Stearns. When most businesses fail, they die and cease to exist. Instead of letting the markets take care of it, the fed essentially window dresses the problem and lets another vulture gobble up a failed company. The problem is, the vulture has the same problems, only probably not to the extent of Bear Stearns.

So, the government steps in and funds a private acquisition.

Hmmmmm.

Is this not Socialism?

And if they can do it here, why can't they fund a health care system?

Oh yeah, I forgot...it's because that would be socialized medicine.

How very fucking silly of me.

[Larkspur]

1. It's really called "Fascism"

Fascism is when government serves corporate interests at the expense of democracy. The Bush Admin is a proto-fascist regime, so says John Dean.

[magellan]

2. It's fascistic socialism

Our government helps its business friends because those business friends own the government.

[tridim]

3. It's fascism. nt

[eShirl]

4. if it was socialism, wouldn't we (the United States) now own Bear Stearns?

[tjwash]

5. That's not socialism...that's business as usual in the good ol' US of A.

Give a hand to their criminal buddies on wall street, as hundred of thousands of American families simultaneously lose their homes to foreclosure. Just another big fuck you to the people that are really getting hurt, The federal government won't lift a finger to help them, but the greedy irresponsible multi-millionaires who brought this crisis on get the royal treatment instead of the prison terms that they deserve.

As it is right now, these folks have everything to gain and nothing to lose. The precedent was set already in the 80's when they bailed out the S and L's this way. It sucks, because I can understand the need keep markets functioning, but there has to be some kind of middle ground where this kind of behavior is punished and not encouraged.

[HughBeaumont]

6. Like it was said on another thread:

Socialism for the wealthy. Capitalism for the rest of us.