Maybe it's an example of crony capitalism crossed with a criminal state?
If it's true for the last 500 years the only thing worse for any politician than getting caught conspiring with organized crime is to lose control of the money criminal activity generates, that would explain why there haven't been any prosecutions for securities fraud since Obama took office.
My very limited understand of the "free market" is that it was tried in this country very briefly and found to be inadequate for generating large concentrations of wealth.
Real competition seems to have that effect:
"For those who are interested in the real world, a look at the actual history suggests some adjustment -- a modification of free market theory, to what we might call 'really existing free market theory.'
"
That is, the one that's actually applied, not talked about.
"And the principle of really existing free market theory is: free markets are fine for you, but not for me. That's, again, near a universal.
"So you -- whoever you may be -- you have to learn responsibility, and be subjected to market discipline, it's good for your character, it's tough love, and so on, and so forth.
"But me, I need the nanny State, to protect me from market discipline, so that I'll be able to rant and rave about the marvels of the free market, while I'm getting properly subsidized and defended by everyone else, through the nanny State.
"And also, this has to be risk-free. So I'm perfectly willing to make profits,
but I don't want to take risks.
"If anything goes wrong,
you bail me out."
Free Market Fantasies