Socialism for the Stock Market

It's not enough that stock traders are protected from their own stupidity; if the market begins to crash, trading is now automatically stopped. It's not enough that banks are protected from their own incompetence; the FDIC (i.e. the American taxpayer) now protects all accounts held by banks. The taxpayer also protects mortgage holders from possible default through federally insured loans. It's not enough that the taxpayer subsidizes stock traders' incomes through special tax treatment for capital gains and speculation income. No, none of these taxpayer funded protections for the stock market is enough.

Now the taxpayer (i.e., the Federal Reserve Board) is handing over cash to the stock dealers. Of course, it's not called cash, it's "liquidity." Are those economically hard-headed, tough-minded capitalists going to reject this latest attempt to save the market from their stupidity? Uh..well, no. Why should they now reject Stock Market Socialism after a half-century of enjoying it's benefits?

The American taxpayer should not expect, however, any similar treatment for them when they file for bankruptcy. There is no Federal Reserve Board for the average American citizen. No government agency will provide "liquidity" for a citizen who is facing bankruptcy. You see, that would be socialism.