Quote:
Originally Posted by u-Bob
There's nothing capitalist about what banks do and why they needed the bailout. In a capitalist society, a real free market, banks wouldn't be able to do what they do and wouldn't get bailouts.
http://mises.org/hoppeintro.asp |
investment banks are privately owned (although they are gambling with other peoples money), how can it not be capitalism?
i didn't say the bailout was capitalistic, the british government, and other governments around the world, had no choice but to bail out the banking sector. it couldn't be allowed to collapse, that would have been financial armageddon.