The Gentlemen's Bailout

thenation.com — The Federal Reserve's announcement of an open-ended bail-out for Wall Street's endangered financial firms and banks opens an ominous new chapter in what might be called "market socialism with American characteristics." The financial system's reckless losses—approaching $1 trillion but probably far more—are being "socialized," dumped on the public, the very people victimized by its snares and falsified valuations.

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