I reject the notion that Capitalism is the problem here. The idea is synonymous with 'free market' meaning free of government intervention, and we are talking about the GOVERNMENT bailing out these corporations.
There would be no bail out under a capitalistic economy.
The really scary thing is how this bailout is being executed.
Some quotes from early drafts of the bailout:
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“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency,” the original draft of the proposed bill says.
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“The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this act,” the proposed bill read when it was first presented to Congress, “without regard to any other provision of law regarding public contracts.”
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