What's really ironic is how history is repeating itself. In 1929, the stock market crash that preceded the Great Depression was caused by rampant capitalism. Hoover's capitalist plans to fix the situation didn't work, and FDR's New Deal, which got the economy back on track to recovery, was derided as "socialist" from all corners. This is happening again here: a crash caused by rampant capitalism and greed, and anyone who tries to fix it is called a "socialist", when in reality, the bailout plan isn't socialist at all. I quote:
"The present crisis exposes the failure of the capitalist system. It has laid bare enormous levels of corruption and incompetence. But beyond the greed and criminality of corporate executives, the crisis is the product of a protracted decay in the global position of American capitalism. The American ruling class has no response but to attack the working class, while attempting to seize control of the world?s resources.
The propagandists of big business pay endless tributes to capitalism and the infallibility of the ?free market.? This ideology, as stupid as it is reactionary, is exposed by the eruption of the sub-prime mortgage crisis that has brought the entire American and world financial system to the brink of collapse. During the past several months, hundreds of billions of dollars have been poured by the Bush administration, with the support of the Democrats, into privately-owned financial institutions. The bailout of Fannie Mae and Freddie Mac has effectively doubled the national debt of the United States. The cost of these bailouts will be borne by the working class. The sole beneficiaries of these rescue operations will be, as always, corporate executives and super-rich investors.
In opposition to the state bailout of the American financial oligarchy, the SEP advocates the transformation of the giant banks and corporations into democratically controlled utilities, operated to meet social needs, not private profit. It supports a massive redistribution of wealth to benefit working people, including vastly expanded resources for social programs, jobs, health care, housing and education."
This is the opinion of the World Socialist Website, which is the website of the Fourth International (the current communist movement). I really find it frustrating that people label the Democratic policies "socialist" when in reality they really aren't.
The article I cited may be accessed at: http://www.wsws.org/articles/2008/sep2008/elec-s13.shtml
EDIT: Further opinion about the "socialist" character of Democratic politics: http://www.wsws.org/articles/2008/oct2008/pers-o23.shtml
"Socialism means the reorganization of economic life under the democratic control of the actual producers, the working people whose labor creates all wealth. It can come about only through the independent political mobilization of the working class, led by a revolutionary party, which establishes a new and far more democratic form of state, a workers' state, which exercises ownership and control over the means of production. Socialism cannot be engineered through backroom deals between Wall Street bankers and Washington politicians, or through the policies of any Democratic or Republican politician."