[MD] On the road to serfdom

[Woods Woods]

dmb:
Or think about it from the Pragmatist's perspective. We've tried this unregulated 
free-market stuff for thirty years. What are the results? Obviously, we need to 

woods:
No we didn't try the unregulated free market for thirty years dmb.  We got 
rid of regulations set-up during the Great Depression to avoid another 
Great Depression namely Glass-Steagall Act for one.  FDIC makes for moral hazard, 
and the Federal Reserve is a regulation system that centralizes power, etc...
Bailouts have happened for decades in this country, none this big, but the 
free market hasn't been at work for who knows how long.  Check out the 1970's, 80's 
for example, how bailouts occurred, instead of letting businesses crash they've 
gotten bailed out, and then they need help again and Congress bails them out 
again with the Federal Reserve helping.  Look at the bailout now.  All the money 
from the bailout is being used by the Investment Firms and banks to buy other banks 
and to give billion dollar bonuses.  It's more corrupt than the free market.  The free market 
hasn't been around since maybe the foundation of the U.S., maybe not even then.  Free 
market is thrown around too much without full consideration at times.  It's more 
about corruption than what kind of market we are using.  Pirsig pinned it down 
with morals and spiritual rationality.