Madlen Read has no idea what capitalism is:
…economic professors may well point to 2008 as the year capitalism went on life support.
The local rag links Madlen, and in the print edition, it’s under the moronic headline, “2008: The year capitalism went on life support.”
Banks took stupid risks, and went crying to mama government when those risks burned them. Unfortunately, fractional reserve banking has so infected so many economies that their fall has had repercussions almost everywhere. Even more dismal is the fact that there is almost no one left who understands that a bank, or any other company no matter how large, which habitually makes poor judgments, should fail.
Anyone who points to 2008 as a failure of capitalism, has no idea what capitalism is. Capitalism is not about capital, it’s about freedom. That includes the freedom to fail because of stupid decisions.