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The End Of American Capitalism?

Pedestrians are reflected in an electric stock market board in Tokyo. Punctuating its worst week in history, Japan's main stock index plummeted nearly 10 percent. European indexes followed suit. (Photo: AP)

The worst financial crisis since the Great Depression is claiming another casualty: American-style capitalism.

Since the 1930s, U.S. banks were the flagships of American economic might, and emulation by other nations of the fiercely free-market financial system in the United States was expected and encouraged. But the market turmoil that is draining the nation's wealth and has upended Wall Street now threatens to put the banks at the heart of the U.S. financial system at least partly in the hands of the government.

Posted in Bailout