Dean Jorge Bocobo in his blog says that America has taken on socialism and a planned market. The Federal Reserve's 85 billion dollar or more intervention to save the underwriters is unprecendented in history. Welcome to the USSA or the United Socialist States of America!
Remember Croissant Commie and bridge player Deng Xiao Ping? His most famous line is
"It doesn't matter if the cat is black or white, as long as it catches mice!"
With that he launched China's "socialism with Chinese characteristics". And the crowning glory of all that market reform is the Bird's Nest stadium in Beijing. Of course the reform has its dark side. Capitalistic greed is the likely reason why there is melamine in Chinese made baby formula!
With the Federal Reserve intervention, I would like to restate Deng and I really intend the pun,especially in this US Presidential derby season. My apologies to the Paramount Leader!
"It doesn't matter if the candidate is black or white, as long as it can save its own ass!"
So far White McCain and Black Obama haven't really given statements on how they plan to deal with the continuing fallout. Obama has taken on promises and the requisite Bush bashing. While McCain seems to be in a Republican daze. McCain promises to add more regulation. This is taken on by Obama who says that McCain stood for more dereugulation
Sarah Palin and SNL lampooners are the only ones that provide entertainment. Palin the Alaskan beauty queen, can only express "disappointment" while downing a mug of coffee.
BTW, the USSA has been criticized by Europeans as the new USSR by putting missiles so near to Russia. No wonder that the Russian duocracy of Putin and Medvedev are pissed out to the extent that they sent the Bears over the North Pole once more. But Europeans should eat their words. The EU is more like the USSR. It's Brussels politburo has little accountability.
Obviously, we are in a new stage in history. We have a socialism with American characteristics. And as one blogger says, this is Corporate Socialism. The proletariat pays for the losses,while the board of directors get bailed out (who else but by Washington) and still has the chance to turn it a profit. The Fed has said that the mortgage liabilities would be sold cheap! Who's gonna make a profit and get to live in the American dacha? Definitely it isn't the American who can't make the mortgage payments.He/she has been kicked out of his/her dream dacha!
In socialism the worker gets screwed and gets treated to a May Day parade. In capitalism the worker gets screwed and gets treated to an ex-employee parade on Wall Street. But hey! He/she still has the chance to buy out the one who screwed him!