Washingtom Post Response

This came out of today today's Washington Post article the End of Capitalism and outlines some grave concerns of the free market financial system:

The government's about-face goes beyond the banking industry. It is reasserting itself in the lives of citizens in ways that were unthinkable in the era of market-knows-best thinking. With the recent takeovers of major lenders Fannie Mae and Freddie Mac and the bailout of AIG, the U.S. government is now effectively responsible for providing home mortgages and life insurance to tens of millions of Americans. Many economists are asking whether it remains a free market if the government is so deeply enmeshed in the financial system.

It certainly seems this way, but everyone needs to take a deep breath. I'm not so sure it's such a bad thing for the government to be in the business of buying and selling mortgages and life insurance. A total take over of our financial system is something different, but I can't imagine there is a Congressman, Senator, or Executive official that feels this should be the case.