"Fed chief: Gov't needs more power when firms fail. Bernanke, Paulson call for safety net if Wall Street firms fail; Urge more regulatory clout."

(WASHINGTON)" Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson told Congress Thursday that new regulatory powers are needed to insulate the national economy from damage if a big Wall Street firm collapses."

No matter how it's spun, this is socialism, but only for for large corporations. The individual is on his or her own. I don't see Uncle Sugar bailing out the folks around here from bankruptcy, foreclosures or repossessions. (And the spin is that it will hurt the little guy if the CEO of Bear/Sterns doesn't get paid his obscenely large "compensation".

You just have to love hearing about Bush & Co. exporting "free enterprise" and democracy.

Arf