The Mudcat Café TM
Thread #114513   Message #2445183
Posted By: GUEST,petr
19-Sep-08 - 01:09 PM
Thread Name: blame CAPITALISM & jetison it!!
Subject: RE: blame CAPITALISM & jetison it!!
sapper82 - when capitalism screws up. its not just a few billion lost..
its. wwI wwII (Hitlers Germany certainly wasnt socialist)
the 1929 financial collapse that led to the depression.. Andrew Mellaon then secretary of the treasury said let the banks fail..the govt will do nothing.

since then of course we have had the federal reserve..
Ironic that in the US which is supposed to be the FREE ENTERPRISE system with no govt interference in the economy - you still have this body (the Fed) that sets the interest rates.