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The Fed's Step In: A Test for Capitalism
I think now the entire business community has had a taste of bailouts. And it doesn't work really nicely. The Fed stepping in is starting to be embedded into people's thinking. In good times, when anybody can make money, you reap those profits in bad times. You have this never-ending ratchet up. It's like a no-lose casino. I fear that now. People talk about the survival of capitalism, but this is the biggest threat to capitalism.