With collapse of Lehman Brothers, Bear Sterns, Fannie & Freddie, who still supports unregulated capitalism?

[rheged]

Conservatives demand that corporations and financial institutions have as little oversight and government regulation as possible, but when their reckless and fraudulent actions get millions of Americans foreclosed out of their homes or the institution collapses because investors see through their scams, taxpayers end up bailing them out to the tune of tens of billions of dollars.

When we did welfare reform back in the 90's, we required something in return for financial help for the poor: work.

When we have to bail out some brokerage, bank, or whole category of institutions like the S & L crisis in the 80s, we the people should have a say in how they do business and oversight through our elected representatives.

The same is true when an institution or category of industry has the ability to do massive harm to our people and economy through incompetence or malice as the power companies did here in California when they turned off our lights to blackmail the state for $10 billion.

We don't put kids in charge of their own education, criminals in charge of policing or let sports teams play without referees.

Why should we trust corporations and financial institutions to police themselves, particularly since the last few decades, they have established a pretty good track record of stealing employee pensions, bankrupting S &L's by giving loans to friends that they knew they wouldn't payback (but would give a nice kickback) and leave taxpayers holding the bag, or designing mortgage and credit card contracts that trap consumers in debt they can't repay or give the mortgage company the couple of years of payments you made AND your house.

Capitalism works very well at making a profit. The problem is there are more ways to make a profit than delivering a superior product at the lowest price. They can also make it through fraud, monopoly, and buying government favors and subsidies.

Isn't it time we make these guys at least as subject to the law as we are as individuals?

Shouldn't our government should be keeping much closer track of what they do and not by regulators chosen by the industry as has been the case in the Bush years?

[ned]

republicans, but of course McCain will now say it needs to be fixed with Government regulations and reform and even steal Obama's "change" lines

however, how can McCain keep his promise of regulations when the core belief of a Republican is to down size government

so with all the theft of words from the democrat campaign, McCain is now stealing the Democrat belief in bigger government

people are fooled so easily

well old man McCain, you don't fool me

[elkanah1]

The only thing that bothers me about your post is that you get to vote.

Try to get a grip here. Capitalism isn't about bailing out companies and buying government favors...that is not hands off capitalism..it is the government stepping in to prevent people who made very bad economic decisions from bearing the consequences of their actions. This would not occur in a true capitalist market. Likewise, all those folks who paid zero attention to the fact that they really couldn't afford to buy that $500,000.00+ home or who took out ARM's that they couldn't afford when the rate adjusted, would not be getting bailed out with my money either.

"They" who turned out the lights here in California a few years back were given that right by the government plan that prevented any company from owning both the source of energy production and distribution rights...that is like saying you can cook the food but you have to sell it to someone else to serve it to the customer. It was a stupid government inspired boondogle that people have perverted into the concept of Capitalism. It never was.

The biggest problem exhibited by such posts is the fact that the concept of what a truly free market is has been so corrupted by the expectation and assurance of government intervention that most people, like you, have no conception of what it would be really like in a truly free market where, for example, there would be no government bail outs for stupid economic decisions, there would be no "favors" to buy through the use of government influence and you would actually be responsible for making sure that you have invested wisely (instead of relying on someone else like your employer to do it for you); make sure that you can afford what you are buying (because no one will save you when you screw up) plan for your own retirement and medical care (because big daddy government isn't going to hold your hand) and actually take some bloody responsibility for your own life....

But then again, what would the Liberals and Democrats do with themselves if they couldn't try to run everyone else's life.