"The world leaders gathering for Saturday's economic summit may be looking ahead to his successor, but President Bush signaled that he's ready to defend Western-style capitalism and free-market principles during what will be one of his last appearances on the world stage.
President Bush warned against excessive regulation of the financial system during a speech Thursday.
While acknowledging that parts of the system are broken, Bush warned against reacting to the current financial crisis with excessive regulation, arguing in a speech at New York's historic Federal Hall on Thursday, ' the answer is not to try to reinvent that system. It is to fix the problems we face.' "
Read : http://edition.cnn.com/2008/POLITICS/11/14/bush.summit/index.html.
I find that hard to believe : we can not fix the problems we face without reinventing at least part of the system. But then, free market capitalism (isn't there a contradiction ?) is a supreme dogm in the present White House.
And in a large part of America. I must admit that, ploughing through a lot of American blogsites, I find that most Americans probably have a stronger belief in free market and capitalism than in God. I find that blind dogmatism quite distressfull, but there it is. "Socialist" still is a terrible curse word over there.
But then of course, the Americans who do not agree and who live in conditions approaching third world societies do not have the means to ventilate their opinions on the net.