Corny Capitalism v. Crony Socialism

I do not recognize the market world I am living in... a world of total and unadulterated hypocrisy. A world where business people who made billions and billions of dollars because of free markets... now want manipulated and government controlled markets because of the bad bets they made. This is disgusting, and for anyone that is a free market proponent, it is a wake-up call that none of us has any control of. This is no longer crony capitalism - this is crony socialism. We can rant, we can yell, we can scream, but no one is listening because the guilty are being propped up by their friends... and it is not even hidden anymore. It is self evident for all of us to see, but supposedly, for the greater good, these too-big-to-fail companies have to be saved. In my world, if you make bad bets, you lose and if need be, you go out of business and let someone else come to fill the void of your stupidity. In the world we are watching, you can hide losses just like ENRON and not be called an ENRON.

Gary Kaltbaum @ TradingMarkets.com.

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