But as was demonstrated again this past week, American capitalism needs strict guardrails. Otherwise, it is subject to periodic crises that summon bailouts. The result is socialism for the rich while everyone else is subject to harsh penalties: Bankers get bailed out and the biggest banks and bankers do even better. Yet average people who cannot pay their mortgages lose their homes. Meanwhile, almost 30 million Americans still lack health insurance, most workers who lose their job aren’t eligible for unemployment insurance, most have no paid sick leave, child labor is on the rise, and nearly 51 million households can’t afford basic monthly expenses such as housing, food, child care, and transportation.

Is it any wonder that so many Americans see the system as rigged against them? Is it surprising that some of them become susceptible to dangerous snake-oil peddled by demagogues?

Source: Who’s Raking In the Most From the Banking Mess? | The Smirking Chimp