The Death of Capitalism

“Congressional leaders and the Bush administration reached a tentative deal early Sunday on a landmark bailout of imperiled financial markets whose collapse could plunge the nation into a deep recession. House Speaker Nancy Pelosi announced the $700 billion accord just after midnight.” The one lone bright spot in this deal, from my perspective, is that, “the proposed legislation also calls for the financial sector to help make up the difference if the government does not recoup its investment in five years, the official said, but details were unclear.”

This is like a bad dream.  Bailing out bad business practices and corrupt institutions to avoid a recession. At this point we deserve one, a true natural market correction is in order because eventually we’re going to pay either way.  I wonder what Adam Smith and his weird, spooky invisible hand would think of all this? Here’s to the future.