Socialized Bail-Out Saves Free Markets - Again

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Many investors, corporatists, anarcho-capitalists and some just down-right greedy money-grubbing businessmen swear up and down almost daily about the government’s hand in the so-called “free markets.” Cut taxes they say and stay the hell out of our business because after all, we’re the ones taking the risks. But the $38 billion injection by the Fed into the banking, lending and mortgage industries is just the latest in a string of bailouts over the last two decades and appears to have come at a welcome time considering the way the sham markets reacted on Friday.

The Escape Of the Enablers Excerpt:
Hello? If you believe in markets - which I do - this rescue is especially galling, because Wall Street enabled this mess in the first place. How so? By happily sucking up hundreds of billions of dollars' worth of suspect mortgages from marginal U.S. borrowers-and begging mortgage makers to create more of them.

This is part of the conundrum. We call them "free enterprise" and "free markets" and wish so badly they were, that we forget there are insiders, manipulators and purely fake markets created out of thin air and designed to swap notes, credits and I.O.U's in an effort to play by the rules. Somebody always wins and, somebody always loses.

Sure, we know the Fed will always bail out the bigshots just to avoid a catastrophic domino effect in the financial markets. And I don’t think anyone except a doomsayer wants the world's financial system to implode. But I'd feel a lot better if Wallstreet had to payback the taxpayers with interest for the handout and let the so-called “risktakers” for once, live up to their name.