The way Bear Sterns was bailed out resembles a third world socialist country nationalizing financial institutions – capitalism failing in America?
Sam Adelton
Mar. 18, 2008

As predicted in India Daily, the stock market is now going up. The Federal Reserve did something for JP Morgan Chase to rescue the investment banker Bear Stern that is unprecedented. They threw the open market capitalism out of the window and opted to act like a central bank of a third world socialist country nationalizing financial institutions.

The financial meltdown finally proved that capitalism with segregated access to capital might have failed in America. It is something unbelievable. It is more climactic that communism failing in Soviet Union.

Capitalism in its original for m is the best for any economy as long as segregation is not practiced in access of capital. It provides opportunities for all. It also challenges the brightest to produce world best output in every sector. But when misused, just like communism it can crumble.

Federal Reserve did something that is typical in a third world socialist country nationalizing financial institutions. They provided guarantee on assets held by a failed banker so that another questionable banker can buy the banker in jeopardy.

It was nothing but nationalizing distressed banks. This raises a simple question, is capitalism failing in US like communism failed in Soviet Union?

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