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Concentration of power is oligarchy, not fascism. Nationalistic, heavy governmental control of economic power (with or without nominal private property) and subordination of individual rights to the collective (usually the state) under a "wise" leader, usually with militaristic or expansionist tendencies, is fascism.
I didn't say stock ownership is diversified; I said it's dominated by institutions, the largest of which is pension funds. Nothing you posted is contrary to that, Host. The fact is that most of the population either directly or indirectly has a stake in healthy financial markets -- their insurance company is heavily invested, their 401(k) is too, so is their pension fund, so is their bank.
As for FDR, throwing around the word "fascism" apparently was fashionable back then. Bear in mind that the critics of the New Deal insisted it was fascistic because it involved massive governemnt control of the economy and huge infringements of property rights. So of course FDR needed his own counter-response. Rhetoric is cheap. It is now, always has been.
As I said up above with the quote from Orwell, fascism doesn't mean "things I don't like." It's a set of variously implemented principles, and the free market sure ain't one of them.
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