To recapitulate an argument I made earlier. The economic and financial crisis is not (yet) a crisis of capitalism. By that I mean there are policy choices that could save liberal-democratic capitalism from the present crisis, although this would require a turn left to social democratic compromise: nationalizing some of the banks, shutting down insolvent banks, and permanently nationalizing, in part, the utility function of banking; and funding a full-scale green industrial strategy to retrofit every home and produce green transport, green energy capacity, and new infrastructure.
The primary danger to capitalism comes not from the economic impossibility of such solutions, nor from any organized force presenting an alternative to capitalism, but from political contradictions within. Despite neoliberalism's loss of legitimacy, there is also still an incredible strength and resilience in various strains of market ideology, particularly in the Republican party, that makes enacting the necessary policy solutions very difficult, if not impossible. If the crisis continues without appropriate remedy, it may indeed become a crisis of capitalism in a fuller political-economic sense. The dynamic we could be facing is that the right will block an appropriate adjustment, then reap the rewards of policy failures and usher in an even more authoritarian kind of capitalism.
This crisis will not be a crisis of capitalism unless we make it a crisis of capitalism by organizing with sufficient strength and capacity to bring about a viable alternative. It is our job to put alternatives on the agenda.
I thought thats what Government was doing was putting regulations in place to tighten the reins on unharnessed greed. But thats not going to do it. Its got to start with the rule makers at the top to be held accountable for their actions as its capitalism at its finest with a politician or two in the pockets of corporate elite to ensure little gets in the way,as it's the Capitalism model as we know it today. And I find it hard to totally grasp Republicans putting a wrench in the mechanism as its also in their best interests Government gets a hold of the lease.