Not only that it lack wholesome support even from within, but the fact that her Federal Government is buying stakes to save the banks & companies is itself the ultimate form of humiliation to the "religion" thus far considered the best method to run global economy - capitalism.
(President) Bush's remarks was the crème de la crème, "These measures are not intended to take over the free market, but to preserve it." Talking about the wordplay, dude, you are one slick eel.A capitalism purist will know that this is against every (moral?) fibre of capitalism.
Whilst I remain impartial to the plan (honestly not knowing the impact of such measures), I know for sure that such measures (takeovers, bailouts) were the ones that Asian countries were trying to take in order to safeguard national interest in the previous wave of the 10-year cycle economic turmoil.
But they didn't, as there were pressures from international community (read : US and the West) to resist such actions in order to preserve the free-ness of the free market and capitalism (read : so that they can capitalise).
"Capitalism is the economic system in which the means of production are owned by private persons, and operated for profit & where investments, distribution, income, production & pricing of goods & services are predominantly determined through the operation of a free market" - Bacher, Christian. Capitalism, Ethics and the Paradox of Self-exploitation. Grin Verlag. 2007. page 2
With such elaborate plans to safeguard the companies, no wonder this action is like spitting to the air. Who knows, without such intervention, some oil-rich Arab companies might be able to acquire major bigplayers in US; AIG, the recently deceased Lehman Bros etc - which is of course a baseless 'teory' of mine that manages to discount the ever important element of public sentiments :)
I wonder if there are better alternatives to capitalism... ending with a rhetorical question... nice... :) Tiqo-sama would have been proud of me.
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